PSC Pension Scheme Reports Strong Growth as New Strategic Plan Unveiled
The AGM wrapped up with the resolve to continue the fight for retirement security of public servants and an improved pension system that will better serve future generations.
Mr. Famba credited the strong performance to prudent management and strengthened governance by the Trustees, noting the Scheme is now fully financially autonomous. Photo/Courtesy
By Ruth Sang
In this regard, the Public Service Commission Staff Pension Scheme registered a year of outstanding achievements characterized by impressive financial growth, enhanced governance, and innovative programs aimed at servicing the welfare of its members. PSC Chief Executive Officer Mr. Paul Famba characterized the period as a “milestone year” in securing the long-term retirement future of public servants.
Speaking during the Scheme’s Annual General Meeting today, Mr. Famba praised the Trustees for prudent financial stewardship, which he said had helped position the Scheme on a path of sustained stability and autonomy. According to the AGM disclosures, the Scheme’s fund value expanded substantially to reach Sh1.421 billion from Sh1.057 billion the previous financial year. The increase was supported by strong investment returns of 19.45% and 16.75% across its different portfolios.
Mr. Famba noted that the Scheme is currently fully financially independent, a development he linked to the improved governance structures and consistent oversight. He said that the commitment by the Trustees to transparency and sound investment decisions had boosted confidence among the members while reinforcing the Scheme’s long-term sustainability.
Participants at the AGM also discussed the early progress made toward establishing a Post-Retirement Medical Fund, an initiative meant to ensure better health care access for retirees. Once fully implemented, the fund will help reduce the financial burden of medical care on pensioners-a concern widely acknowledged across the public sector.
The meeting further cemented the government’s continued support to the Scheme. In the last year, employer contributions totaled Sh148.2 million, and Sh12.6 million was paid out through the Group Life Cover for crucial financial protection of beneficiaries.
One of the major highlights of the AGM was the launch of the PSC Staff Pension Scheme Strategic Plan 2025–2030. The five-year blueprint sets out an ambitious agenda focused on growth, innovation, and improved service delivery for members. Key priorities outlined in the plan include enhancing digital services, diversifying investments, strengthening member education, and improving benefit processing timelines.
Mr. Famba emphasised that the new Strategic Plan would form the basis on which the Scheme would remain resilient, member-centered and responsive to emerging challenges, and assured them that with continued collaboration between the Trustees, Management and government stakeholders, the Scheme would continue on an upward trajectory. The AGM wrapped up with the resolve to continue the fight for retirement security of public servants and an improved pension system that will better serve future generations.
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