Nairobi, Aug. 4 -- More than 530,000 civil servants, including police and teachers, will in January have their take-home pay cut by 7.5 percent as they start contributing to their pension savings scheme.
The employees attached to ministries and State agencies will see a portion of their salaries sliced for onward remittance to the soon to be created Public Service Superannuation Scheme (PSSS).
This means that State workers will cede about Sh2.4 billion monthly or Sh28 billion to the fund that will emerge as Kenya's largest pension scheme.
Treasury Cabinet Secretary Ukur Yatani will on Wednesday set the stage for the setting up of PSSS-which will have a board and CEO- by announcing the January date when civil servants will start contribut...