Nairobi — The monthly pension increase is in line with the policy in the Pensions Increase Act Cap.190 following its amendment with effect from July 1, 2005.
In addition, a pension increase at the average inflation rate but capped at a maximum of 3pc will be granted every two years with the next increase due on July 1, 2015.
Pension increases for dependants will be paid in the August 2013 payroll and subsequent payrolls in arrears with effect from July 1, 2013.
Where a pensioner has died leaving more than one spouse, the new pension amount that would have been paid to the deceased pensioner will be divided equally among the spouses.
Pension for July 2013 was delayed owing to the re-organisation of government following the reduction of ministries from 42 to 18.
However, the monthly pension for July 2013 was released on August 16, 2013 and all banks are expected to have credited pensioners and dependants accounts by Wednesday August 20, 2013.
The Pension department at the National Treasury currently has 218,056 pensioners and dependants in the payroll.