Treasury Issues Another Notice to Pensioners & Dependants

The National Treasury has issued another notice to all pensioners and dependants receiving monthly pension payments from The Pensions Department of The National Treasury.

In the notice dated February 21, the Treasury said the pensioner self-registration that commenced on 5th December 2024 has now entered its final month.

The Treasury said the registration period closes on February 28, 2025.

Therefore, the Treasury urged pensioners and dependants receiving monthly benefits to act now to secure their pension before the deadline.

“A majority of pensioners have already registered-if you have not yet done so, this is your last chance! Ensure your details are up to date to avoid any disruptions to your pension payments,” reads part of the notice.

How to Register for Pension

1. Online Registration: Navigate to the E-citizen Portal, log-in and follow the self-registration process under the Pensions Department, National Treasury.

2.In-Person Assistance: Visit any Huduma Centre, Treasury Pensions Department office, or designated registration agent for help.

Assistance from Treasury

For assistance, you can call 0202240779, 0203316265 ,0709259726 ,0709259727, 0730837726 or 0730837727.

Additionally, you can reach out through the email pensions@treasury.go.ke, visit the nearest Huduma Centre or Treasury Pensions Office.

“Act now-don’t wait until the last minute! Register before 28th February 2025 to secure your pension benefits,” Treasury said.

Also Read: Govt Introduces New Tax Laws on Pensions & Retirement Benefits

Tax Reforms on Pensions

On January 8, the Retirement Benefits Authority (RBA) announced new tax reforms on pensions and retirement benefits, introduced by the Tax Laws (Amendment) Act 2024.

The Retirement Benefits Authority (RBA) stated that the reforms, which took effect on December 27, 2024, aim to address economic challenges by increasing tax-free pension contribution limits and making other adjustments.

Also Read: Kamau Thugge Clarifies Proposal to Remove CBK from Sale of Bonds & Treasury Bills

Key changes include:

1.Raising the tax-free pension contribution limit by 50%.

2.Increasing the tax-deductible contribution limit from Ksh240,000 annually (Ksh20,000 per month) to Ksh360,000 annually (Ksh30,000 per month), allowing Kenyans to save more for retirement without tax deductions.

3.Exempting pension benefits from registered schemes from income tax if a member retires as per the scheme’s rules, withdraws funds due to ill health before retirement, or has been a member for at least 20 years.

4.Introducing a tax-deductible limit of up to Ksh15,000 per month for contributions to post-retirement medical funds to ease healthcare costs in retirement.

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