| dc.description.abstract | The adequacy of pensions is measured by their ability to prevent poverty, the degree to which
they replace income before retirement and how they compare to the average incomes of people
below pensionable age. The at-risk-of-poverty or social exclusion measure is directly linked to
the poverty reduction target of the Kenya Vision 2030 strategy.
This projects focus is on the adequacy of retirement benefits in light of both expected and
unexpected expenses in retirement. The report begins with a conceptual discussion of benefit
adequacy and the various ways it has been and can be measured. Adequacy measures examined
include replacement ratios, projected expenditures, and minimum societal standards. Both
income needs and lump sum equivalents are considered | en_US |
