KMTC STAFF RETIREMENT BENEFITS AND PENSION SCHEMES: MEMBER EDUCATION AND SENSITIZATION TRAINING
The Kenya Medical Training College (KMTC) has conducted a nationwide member education and sensitization training to enhance awareness of retirement and pension schemes, as well as the recent developments within the sector.
KMTC operates two pension schemes: the Defined Benefits Scheme (DBS), officially registered as the Kenya Medical Training Staff Retirement Benefits Scheme, and the Defined Contribution Scheme (DCS), registered as the Kenya Medical Training Staff Pension Scheme 2011.
During the training sessions, the Chairman of the Board of Trustees, Mr. Robert Otieno Ndalo, emphasized the Board’s commitment to monitoring macroeconomic changes and adjusting investment strategies to capitalize on opportunities while mitigating risks.
The KMTC Board Chairperson, Mr. Joseah K. Cheruiyot, alongside Board Directors Ms. Hardlyne Lusui and Eng. Joseph Atonga – also serving as board of trustees – conveyed a unified message. Led by Mr. Cheruiyot, they assured members of the Board’s dedication to safeguarding members’ benefits, ensuring financial security in retirement. He announced a significant injection of Kshs. 100 million into the Defined Benefits Scheme and an increase in contribution rates from 20% to 27.6% to address the long-standing deficit, which has been present since 2005. This marks the first time the deficit is being tackled under the current Board of Directors and Trustees.
KMTC CEO, Dr. Kelly Oluoch, urged members to consider making additional voluntary contributions to enhance their retirement benefits. He highlighted the College’s proactive efforts in addressing the Kshs. 2.113 billion deficit identified in the actuarial valuation report for the DB scheme. “We are committed to supporting our staff’s retirement journey by ensuring compliance with contribution remittances,” he added.
These educational forums aim to inform members about the performance of the pension schemes, introduce new products – including the Post-Medical Retirement Scheme, and provide guidance on financial planning for retirement.
The first phase of the member education initiative took place at KMTC Kilifi on September 16, 2024, gathering staff from Mombasa, Kilifi, Msambweni, Port Reitz, Voi, Lamu, Kwale, and Taveta campuses. This was followed by a session at KMTC Makindu on the September 18, 2024 which brought together staff from Makindu, Kangundo, Makueni (and Mbuvo as well as Mutyambua satellites), Mbooni and Loitokitok campuses. The third forum was held at KMTC Kitui on September 20, 2024, and included participants from Machakos, Kitui (and Mutomo satellite), Manza, Marsabit, Garissa, Tana River, Mwingi, and Mbooni campuses.
The latest forums were conducted on September 30, 2024, at KMTC Meru, with staff attending from Embu, Meru, Chuka, Isiolo, Imenti, Maua, and Marsabit campuses. The second phase continued with KMTC Nyeri, Othaya, and Nyandarua campuses meeting in Nyeri on October 2, 2024. On Friday, October 4, 2024, staff from Murang’a, Thika, Kangema, Gatundu (and Matunguru satellite) convened at KMTC Murang’a for their sensitization session.
The third phase is scheduled to take place at KMTC Kisii, Kisumu, and Bungoma on October 14, 16, and 18, 2024, respectively. The fourth phase will be held at KMTC Eldoret, Nakuru, and Nairobi campuses on October 28, 30, and November 1, 2024, respectively.
Additionally, Dr. Oluoch urged the KMTC community to support the nationwide rollout of the Social Health Authority (SHA) program, which will replace the National Health Insurance Fund (NHIF).
He revealed that KMTC has been tasked with leading SHA awareness and mobilization efforts in Kisumu and Homa Bay counties. To prepare for this transition, KMTC has introduced a Diploma in Health Insurance Management to equip the healthcare workforce for the new scheme. This initiative is expected to significantly advance Kenya’s Universal Health Coverage (UHC) goals by making healthcare more affordable, accessible, and high-quality for all citizens.
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