• About
  • Advertise
  • Privacy & Policy
  • Contact
Kenyan Business Feed
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business
No Result
View All Result
Kenyan Business Feed
No Result
View All Result
Home News

Ex-Speakers to get Sh120m on top of retirement perks

Kenyan Business Feed by Kenyan Business Feed
Ex-Speakers to get Sh120m on top of retirement perks
Share on FacebookShare on Twitter

Table of Contents

Toggle
        • Economy
  • Ex-Speakers to get Sh120m on top of retirement perks
Economy

Ex-Speakers to get Sh120m on top of retirement perks

Thursday, June 6, 2019 20:42


By LYNET IGADWAH

Kenneth Marende
Former Speaker Kenneth Marende. FILE PHOTO | NMG 

Parliament has revised the budget to include a Sh120 million golden handshake to the three former Speakers despite the retired officials receiving lavish benefits from the pension department.

The Budget and Appropriations Committee (BAC) has increased allocation to the retired Speakers and offered them the same status as former Presidents Daniel arap Moi and Mwai Kibaki.

The allocations have been made despite the three former Speakers – Ekwee Ethuro, Kenneth Marende and Francis ole Kaparo – receiving monthly pension, medical insurance and staff such as personal assistants, secretaries, messengers, housekeepers and drivers at taxpayers’ expense.

“The Parliamentary Service Commission just like the case with the Office of the President should budget for the three retired Speakers,” said BAC in Defence of the Sh120 million allocation.

Presently, the Speakers receive State-sponsored retirement benefits under the Deputy President and Designated State Officers Act, which also caters for the pension of chief justices and their deputies as well vice presidents.

“It is puzzling they are allocating money for the retired Speakers yet we have been paying them benefits from the pensions department,” said a Treasury source who sought anonymity.

The three former Speakers are entitled to a monthly pension of Sh554,400, a lump sum send-off of Sh13.8 million and monthly fuel allowance of Sh173,250.

The Deputy President and Designated State Officers Act provides hefty monthly pension payouts equivalent to 80 percent of the last salary of retired Speakers.

This is in addition to a golden handshake equivalent to one-year salary and fuel allowance equivalent to 15 percent of their last pay.

The law demands the retired Speakers get a saloon car of 1,800cc and a four-wheel, 3000cc engine capacity vehicle, both replaceable every four years. The lavish benefits reflect the growing burden of keeping top public servants comfortable in retirement.

The Treasury has set aside Sh1.5 billion to cater for the retirement benefits of former officials captured in Deputy President and Designated State Officers Act.

The allocation will increase to Sh2 billion in the year starting July 2020, which is higher than the Sh1 billion allocated for building affordable homes, Sh1.5 billion for constituency transformers, Sh400 million for regional cancer centres and Sh300 million for loans for the youth through the Uwezo Fund.


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]
Kenyan Business Feed

Kenyan Business Feed

Recommended.

Oil Prices Drop Amid Slowing Global Economy As Trade Disputes Exceed Supply Concerns

Oil Prices Drop Amid Slowing Global Economy As Trade Disputes Exceed Supply Concerns

July 9, 2019

Microsoft to hire 100 engineers in Sh10b tech center : The Standard

May 15, 2019

Subscribe.

Trending.

Safaricom warns customers against fake M-Pesa investment schemes circulating online, urging Kenyans to verify all offers through official channels.

Safaricom Warns Customers Against Fake M-Pesa Investment Schemes Circulating on Social Media

September 21, 2025
Tourism CS Rebecca Miano joins Samburu leaders at the Maralal Camel Derby, which draws 30,000 visitors and boosts cultural tourism in northern Kenya.

Maralal Camel Derby Draws 30,000 Visitors as Festival Anchors Samburu on Global Tourism Map

September 28, 2025
Co-operative Bank of Kenya recognized at Global SME Finance Forum 2025 for innovative business banking solutions supporting SMEs across Africa.

Co-op Bank Honored at Global SME Finance Forum 2025 for Advancing SME Finance and Innovation

September 22, 2025
Safaricom Chapa Dimba All-Stars closed their Spain tour with a 4-2 win over SD Huesca, showcasing Kenyan youth football talent on an international stage.

Safaricom Chapa Dimba All-Stars Seal Spain Tour With 4-2 Victory Over SD Huesca

September 21, 2025
Nairobi hosts the first PUBG Mobile Africa Cup Finals, with Safaricom Hook providing 5G power, fan zones, and interactive gaming experiences.

East Africa Crowns First PUBG Mobile Africa Cup Champion as Safaricom Hook Powers Historic Finals

September 21, 2025
Kenyan Business Feed

We focus on news, analysis, and reports about Kenyan business, covering sectors like agriculture, finance, tourism, and technology.

Categories

  • African
  • Agribusiness
  • Courts
  • Education
  • Health
  • Hospitality
  • Manufacturing
  • NetWorths
  • News
  • Reports & Analysis
  • World Business

Popular News

  • First look at the prison where El Chapo may live for the rest of his life

    First look at the prison where El Chapo may live for the rest of his life

    2157 shares
    Share 1040 Tweet 466
  • Sameer Africa CEO Sacked

    1804 shares
    Share 750 Tweet 439

Recent News

Tourism CS Rebecca Miano joins Samburu leaders at the Maralal Camel Derby, which draws 30,000 visitors and boosts cultural tourism in northern Kenya.

Maralal Camel Derby Draws 30,000 Visitors as Festival Anchors Samburu on Global Tourism Map

September 28, 2025
Kenyans to enjoy free entry to all national parks on World Tourism Day as government promotes conservation and domestic tourism.

Free Entry to National Parks Announced for World Tourism Day as Sector Pushes Sustainability Agenda

September 28, 2025
  • Home
  • African
  • News
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF

No Result
View All Result
  • Home
  • African
  • News
    • Agribusiness
    • Courts
    • Hospitality
    • Manufacturing
  • Education
  • Health
  • Reports & Analysis
  • World Business

© 2025 KBF