Kenya Statutory and Private Employee Benefits (including Social Security) – Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 2022 Update
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Kenya Employee Benefits Market Report Overview
Kenya’s social security system is considered important for the security of workers, their families, and the community. The Kenyan social security system is divided into three pillars – a public scheme, occupational schemes, and individual schemes.
The Kenya employee benefits market research report provides insights into the wide range of employee benefits such as retirement benefits, long-term and short-term sickness benefits, and medical benefits as well as other state and private benefits offered by employers in Kenya.
Regulations Guiding Employee Benefits Market in Kenya
The key regulations guiding the employee benefits market in Kenya are The Widows’ and Orphans’ Pensions Act of 1964, The National Hospital Insurance Act of 1998, The National Health Insurance Fund Act, The Work Injury Benefits Act of 2007, The Employment Act of 2007, The Occupational Safety and Health Act of 2007, and The National Social Security Fund (NSSF) Act of 2013.
Kenya Employee Benefits Market Segmentation by State and Compulsory Benefits
The key state and compulsory benefits offered by employers in Kenya are retirement benefits, death in service, long-term disability benefits, short-term sickness benefits, medical benefits, workers’ compensation insurance, maternity and paternity benefits, and other benefits.
Retirement Benefits: Retirement benefits (old-age) in Kenya are regulated by the National Social Security Fund Act of 2013. This act transformed the NSSF from a provident fund scheme to a pension fund scheme. General supervision is carried out by the Ministry of Labor through a board of trustees. This program is administered by the NSSF. At present, the NSSF operates two funds, the pension fund, and the new provident fund, which provide old-age pension and old-age benefits respectively.
Workers’ Compensation Insurance: Workmen’s compensation is regulated by the Work Injury Benefits Act and the Employment Act of 2007. The Ministry of Labor and Social Protection oversees enforcing the law and payment of benefits. It is a part of the employer-liability system and normally companies will provide this benefit through private insurance intuitions. The scheme covers work-related injuries and diseases caused due to the nature of employment.
Maternity and Paternity Benefits: Maternity and paternity benefits are regulated by the National Hospital Insurance Act of 1998 and its amendments, and the Employment Act of 2007. The general supervision of the scheme is carried out by the Ministry of Health through a board of directors. This program is administered by the NHIF. Maternity benefits are provided through the Linda Mama scheme. It is a public-funded scheme to provide affordable healthcare services for pregnant women and infants.
Kenya Employee Benefits Market Segmentation by Private Benefits
The key private benefits offered by the employers of Kenya are retirement benefits, death benefits, medical benefits, disability benefits, and accidental death and dismemberment benefits.
Death Benefits: Employers in Kenya generally provide death benefits through group life insurance plans. In addition to the death benefits, many insurance companies offer optional riders like funeral expense benefits and disability benefits. The employer’s liability policies also provide death cover.
Medical Benefits: In Kenya, employers provide supplementary medical benefits to their employees either by subscribing to corporate health plans or employer’s liability insurance plans. Some employers also provide critical illness cover through a group life insurance policy.
Disability Benefits: Standalone disability plans are not offered in Kenya. Employers provide cover for short-term disabilities through other policies. It is offered under group life insurance or covered under employers’ liability insurance and group personal accident insurance plans.
For more insights on the Kenya employee benefits market, download a free report sample
Kenya Statutory and Private Employee Benefits Market Report Overview
Key Regulations | The Widows’ and Orphans’ Pensions Act of 1964, The National Hospital Insurance Act of 1998, The National Health Insurance Fund Act, The Work Injury Benefits Act of 2007, The Employment Act of 2007, The Occupational Safety and Health Act of 2007, and The National Social Security Fund (NSSF) Act of 2013 |
Key State and Compulsory Benefits | Retirement Benefits, Death in Service, Long-Term Disability Benefits, Short-Term Sickness Benefits, Medical Benefits, Workers’ Compensation Insurance, Maternity and Paternity Benefits, and Other Benefits |
Key Private Benefits | Retirement Benefits, Death Benefits, Medical Benefits, Disability Benefits, and Accidental Death and Dismemberment Benefits |
Scope
This report provides a detailed analysis of employee benefits in Kenya –
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen’s compensation insurance, maternity and paternity benefits, family benefits, unemployment, leaves and holidays, and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Kenya
Reasons to Buy
- Make strategic decisions using in-depth information related to employee benefits in the country
- Assess employee benefits of the market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in the country
- Gain insights into key organizations governing the employee benefits market, and their impact on companies
Table of Contents
Table
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Frequently asked questions
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What are the key regulations guiding employee benefits market in Kenya?
The key regulations guiding employee benefits market in Kenya are The Widows’ and Orphans’ Pensions Act of 1964, The National Hospital Insurance Act of 1998, The National Health Insurance Fund Act, The Work Injury Benefits Act of 2007, The Employment Act of 2007, The Occupational Safety and Health Act of 2007, and The National Social Security Fund (NSSF) Act of 2013.
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What are the key state and compulsory benefits in the Kenya employee benefits market?
The key state and compulsory benefits in the Kenya employee benefits market are retirement benefits, death in service, long-term disability benefits, short-term sickness benefits, medical benefits, workers’ compensation insurance, maternity and paternity benefits, and other benefits.
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Who regulates the Kenyan retirement benefits system?
The retirement benefits system in Kenya is regulated by the National Social Security Fund Act of 2013.
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What are the key private benefits in the Kenya employee benefits market?
The key private benefits in the Kenya employee benefits market are retirement benefits, death benefits, medical benefits, disability benefits, and accidental death and dismemberment benefits.
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