By Nelson Musungu, Bungoma
The County Pension Fund has applauded the County Government of Nyeri for its positive commitment towards remitting dues to the pension scheme.
Speaking during the CPF annual general meeting at Tourist Hotel in Bungoma, the Group Executive Director Joseph Rono said many counties are trying to cope with the delayed release of money from the National Government citing that despite that, Nyeri has remained exceptional.
“As a fund, we acknowledge the challenge of cash transfer to counties but we have also noted that Nyeri has been so consistent in remittance,” he said.
Rono says the fund has grown to realize an enhanced turnover to a tune of 11.4% this year, an occurrence he attributes to commitment by the counties.
His sentiments were echoed by the Secretary General of County government workers Roba Duba who said the services of the fund are satisfactory to members adding that it has continuously dignified the life of pensioners.
“As a union, we are pleased with the level of services and we commit to support it to the end, the management has also remained transparent and consistently updated members on the financial status,” he said.
It should be noted that pension schemes underwent considerable turbulence after 2020 when COVID 19 struck but CPF has stood the test of time to record positive turnover in the post COVID era
As of December last year, CPF’s total value stood at Sh51 Billion, a figure that has since risen to Sh 61 Billion
“In terms of value, our fund has now grown to Sh61 billion, which is a testament to the confidence our members have in CPF and the prudent management of the organization,” Rono explained
He praised the resilience of the Fund’s investment strategy, which has delivered strong returns despite the economic slowdown, inflationary pressures, and other fiscal challenges experienced nationwide
The Annual congregation was attended by host leaders including Nyeri Governor Mutahi Kahiga, Bungoma Deputy Governor Jennifer Mbatiany and officers from all counties
