Circular on Registration and Management of Public Service Retirement Benefit Schemes

Abstract

On 24th November 2010, the National Treasury issued Treasury Circular No. 18/2010 to guide the registration and management of public service retirement benefits schemes and ensure equity in sharing the cost of funding scheme benefits between the employer and employees in the public sector. While the Circular has served the intended purpose well, the emergence of new trends in the retirement benefits sector has necessitated a relook of the Circular to incorporate the emerging needs and address challenges as identified in the National Retirement Benefits Policy that was approved by the Cabinet on 13th November 2023. The policy provides a framework to guide the coordination, good governance, development and growth of the retirement benefits sector to ensure old age income security for all workers.