| dc.description.abstract | Over the years, it has emerged that most pension schemes have not been keen in risk
management. However, current trends in developed countries have inspired developing
countries to consider various reforms aimed at improving the management of their
pension funds thus leading to improved performance. A focus on outcomes and risks
rather than rules, has clear resonance with the search for better regulation. This insight
led to the launch of Risk Based Supervision by the Retirement Benefits Authority and
consequently its adoption by the Retirement Benefits Sector in Kenya in 2011.
This study sought to establish the impact of Risk Based Supervision on financial
performance of pension funds and the effectiveness of its implementation. A sample of
50 pension schemes was drawn from a population of 500 pension schemes that met the
pre-defined criteria for study data. Primary data was obtained from fund administrators
and principal pension officers. Secondary data was obtained from RBA and Fund
managers of various pension schemes. Primary data was analysed using Ms Excel and
secondary data was analysed using SPSS Statistical Package. Total contributions and
fund values for each of the sampled schemes for each of the quarters before and after
implementation of RBS were analysed. | en |
