Nairobi, Aug. 17 -- Expenditure on retired public servants more than doubled in first month of the current financial year on the back of mass exits in recent years amid a persisting lag in the processing of the payouts.
Pension and gratuity payouts in July amounted to Sh9.63 billion, a 156.21 percent climb over Sh3.76 billion a year earlier, according to statistics published by Treasury secretary Ukur Yatani last Friday.
The payouts to retired civil servants represent 6.27 percent of the record Sh153.64 billion budgeted for this fiscal year ending June 2022 but lag a prorated monthly target of Sh12.8 billion by 24.81 percent.
The Treasury struggled to process payouts in line with targets last financial year through June 2021 in the wake ...