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By Frankline Sunday | Published Tue, May 8th 2018 at 00:00, Updated May 8th 2018 at 00:06 GMT +3
Taxpayers will pay members of Parliament Sh1.7 billion between July 1, 2018 and June 2019.
This marks a 700 per cent increase from the Sh262 million paid out in the current financial year.
The figure is expected to hit Sh2.7 billion by July 2020, expanding the country’s wage bill to new highs.
The grim pension budget spending is highlighted in the National Budget estimates for 2018/19 released by Treasury that also revealed billions in unfunded pension liabilities owed to the country's public servants.
According to the report, Kenyan taxpayers will pay more than Sh15 billion in additional pensions during the next financial year as the burden of supporting the country’s retired public servants continues to rise.
MPs raise their pension cheque by 700 per cent
Taxpayers will pay members of Parliament Sh1.7 billion between July 1, 2018 and June 2019.
This marks a 700 per cent increase from the Sh262 million paid out in the current financial year.
The figure is expected to hit Sh2.7 billion by July 2020, expanding the country’s wage bill to new highs.
The grim pension budget spending is highlighted in the National Budget estimates for 2018/19 released by Treasury that also revealed billions in unfunded pension liabilities owed to the country's public servants.
According to the report, Kenyan taxpayers will pay more than Sh15 billion in additional pensions during the next financial year as the burden of supporting the country’s retired public servants continues to rise.
MPs raise their pension cheque by 700 per cent