PSSF hosts Zambian delegation on benchmarking visit

The Public Service Superannuation Fund (PSSF) hosted a delegation from Zambia’s Public Service Pensions Fund (PSPF) as part of a two-day benchmarking mission aimed at informing Zambia’s ongoing pension reforms. The team is exploring Kenya’s transition from a Defined Benefit (DB) to a Defined Contributions (DC) scheme as they prepare for a similar shift.

Welcoming the delegation, PSSF Chief Executive Officer Dr Jonah Aiyabei emphasized the importance of aligning pension investment policies with each country’s socio-economic realities. He urged African pension schemes to deepen cooperation not only to share knowledge but also to explore future joint investment opportunities.

In a joint session, PSSF’s Head of Benefits, Golda Akolo, and Corporation Secretary, Angela Kiptoo, walked the delegation through the evolution of Kenya’s pension landscape—including governance structures, regulatory compliance, and the legal framework under which PSSF operates. The Fund was established under the Public Service Superannuation Scheme Act, 2012, but commenced operations on 1 January 2021.

The transition to a Defined Contributions scheme was motivated by the need to address the ballooning pension bill, ensure long-term sustainability, and shift the financial liability from the Government to an individually funded and managed model. Key highlights from the session included: Structure and mandate of the PSSF Governance and accountability mechanisms Investment strategies in line with the RBA guidelines Regulatory compliance with the Retirement Benefits Authority. 

Dr Aiyabei took the opportunity to invite the Zambian team to PSSF's inaugural Pensions Conference scheduled for November 2025 in Mombasa. PSSF remains committed to building a sustainable, member-focused pension system - and to sharing lessons with fellow African nations working to strengthen retirement security.