The retirement income system in Kenya has received a C grade in a global pension ranking, with a low score on retirement adequacy raising questions about whether savings will be enough to support people as they grow older.
The country scored 53.1 out of 100 in the 2026 Marsh CFA Institute Global Pension Index, which assessed 55 retirement systems covering more than 66% of the world’s population.
The assessment rated Kenya’s pension system D for adequacy, C for sustainability and B+ for integrity, revealing a gap between the strength of its governance and the ability of retirement income to meet people’s needs.
Kenya scored 38.9 for adequacy, 53.0 for sustainability and 76.0 for integrity.
The adequacy score highlights concerns about whether pension benefits and savings will provide sufficient income in retirement. The stronger integrity rating reflects comparatively better performance in areas such as governance, regulation, protection and communication.
Kenya was included in the index for the first time this year, alongside the Dominican Republic and Qatar.
The findings come as pension systems face growing pressure from ageing populations and longer life expectancy, which mean people may need their retirement savings to last for more years.
Fred Waswa, Group Chief Executive Officer at Octagon Africa, which helped provide data and local insights for Kenya’s assessment through its strategic partnership with Alexforbes, said the ranking offered an opportunity to examine the country’s progress and identify areas for improvement.
“Kenya’s pension system continues to evolve, and the inclusion of the country into this index is an important benchmark to see where we stand and what needs to be done better,” says Waswa.
He hopes the findings would encourage a more informed debate on retirement adequacy, sustainability and the long-term financial security of Kenyans.