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Employee Benefits in Kenya

  • November 2014
  • -
  • Timetric
  • -
  • 49 pages

The report provides in-depth industry analysis, information and insights of the employee benefits in Kenya, including:
- Overview of the state and compulsory benefits in Kenya
- Detailed information about the private benefits in Kenya
- Insights on various central institutions responsible for the administration of the different branches of social security
- The regulatory framework and recent regulations relating to Kenyan employee benefits

Kenya’s social security system is considered important for the security of workers, their families and the community as a whole. The Kenyan social security system is divided into three pillars: a public scheme, occupational schemes and individual schemes.

This report provides a detailed analysis of employee benefits in Kenya:
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits , death in service benefits, long-term disability benefits, short-term sickness, medical benefits, workmen’s compensation, maternity and paternity benefits, redundancy benefits, leaves and holidays, overtime pay, emigration benefit and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Kenya

Reasons To Buy
- Make strategic decisions using in-depth information related to Kenyan employee benefits
- Assess the Kenyan employee benefits market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in Kenya
- Gain insights into key regulations governing Kenyan employee benefits, and their impact on companies

Key Highlights
- The Kenyan social security system provides compulsory benefits such as old-age, disability, sickness, death, maternity, work injury, unemployment and medical care, for different groups of individuals such as children, employed, unemployed, retired or elderly individuals
- Private benefits are classified under the second and third pillars – occupational schemes and individual schemes

Table Of Contents

Employee Benefits in Kenya
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
3 Country Statistics
4 Overview of Employee Benefits in Kenya
5 Regulations
6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of retirement plans
6.1.3 Eligibility
6.1.4 Age
6.1.5 Benefits
6.1.6 Payment options
6.1.7 Typical employer practice
6.1.8 Employee and employer contributions
6.1.9 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment options
6.2.5 Typical employer practice
6.2.6 Employee and employer contributions
6.3 Long-term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment options
6.3.5 Typical employer practice
6.3.6 Employee and employer contributions
6.4 Short-term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment options
6.4.5 Employee and employer contributions
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Typical employer practice
6.5.6 Employee and employer contributions
6.6 Workmen's Compensation
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Employee and employer contributions
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment options
6.7.5 Employee and employer contributions
6.8 Redundancy Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment options
6.8.5 Employee and employer contributions
6.9 Leaves and Holidays
6.9.1 Annual Leave
6.9.2 Public holidays
6.9.3 Weekly rest days
6.9.4 Leave paid to casual workers
6.1 Overtime Pay
6.10.1 Introduction
6.10.2 Rate of payment of overtime benefit
6.11 Emigration Benefit
7 Private Benefits
7.1 Retirement Benefits
7.2 Death benefits
7.3 Disability benefits
7.4 Medical Benefits
7.5 Other Benefits
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US$)
8.1.2 GDP per capita at constant prices (US$)
8.1.3 GDP at current prices (US$)
8.1.4 GDP per capita at current prices (US$)
8.1.5 GDP by key sectors
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-KES
8.1.8 Unemployment rate
8.1.9 Household consumption expenditure
8.1.10 Gross national disposable income
8.2 Demographics
8.2.1 Total population
8.2.2 Labor force
8.2.3 Urban and rural population
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables
Table 1: Definitions
Table 2: Kenya - Country Statistics
Table 3: Kenya - Taxation of Lump-sum Benefits Paid Under Tax-qualified Plans
Table 4: Kenya Retirement Benefits - Contribution Rates
Table 5: Kenya Retirement Benefits - Tier One and Tier Two Contribution Rates
Table 6: Kenya Retirement Benefits - Taxation Under Tax-Qualified Plans
Table 7: Kenya Short-term Sickness Benefits - Contribution Rates
Table 8: Kenya Medical Benefits - Co-payment
Table 9: Kenya Medical Benefits - Contribution Rates
Table 10: Kenyan Maternity and Paternity Benefits - Contribution Rates
Table 11: Kenya - Public Holidays

List of Figures
Figure 1: Important Institutions of the Kenyan Social Security System
Figure 2: Kenyan GDP at Constant Prices (US$ Billion), 2008-2012
Figure 3: Kenyan GDP Per Capita at Constant Prices (US$), 2008-2012
Figure 4: Kenyan GDP at Current Prices (US$ Billion), 2008-2012
Figure 5: Kenyan GDP Per Capita at Current Prices (US$), 2008-2012
Figure 6: Kenyan GDP by Key Sector (%), 2008-2012
Figure 7: Kenyan Inflation Rate (%), 2008-2013
Figure 8: Kenyan Annual Average Exchange Rate US$-KES, 2008-2012
Figure 9: Kenyan Unemployment Rate (%), 2008-2012
Figure 10: Kenyan Household Consumption Expenditure (US$ Billion), 2008-2012
Figure 11: Kenyan Gross National Disposable Income (US$ Billion), 2008-2012
Figure 12: Kenyan Total Population (Million), 2008-2012
Figure 13: Kenyan Size of Labor Force (Million), 2008-2012
Figure 14: Kenyan Urban and Rural Population (%), 2008-2012

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