Nairobi, April 15 -- Demographic shifts, economic realities, and societal changes have over the years fundamentally altered the way we plan for our sunset years.

Throughout history, pensions have mirrored the changing structures of societies. In the African setting for instance, community-based approaches to elderly care reflect early forms of social welfare. However, as industrialisation and advancements in healthcare reshaped family structures and lifespans, the need for more formalised retirement security became apparent.

The 20th century saw the rise of social security systems and defined benefit (DB) occupational pension plans. Under this model, governments assumed a central role in providing a safety net for workers as DB plans pr...