The National Treasury has increased the monthly retirement package for Kenya’s presidents by a whooping Ksh 80 million beginning July 2022.
According to budget estimates tabled in the National Assembly, Ukuru Yetani’s ministry has proposed a new budget called gratuity for retired presidents.
This is expected to be up running at a time when Kenya’s President Uhuru Kenyatta will be retiring after serving his two terms as per the Kenyan Constitution 2010.
According to the Nation the new vote has been allocated Sh72 million for the year starting July next year and will increase to Sh79.2 million in the 2024 financial year.
“The Treasury has also increased an allocation for the retired presidents’ pension from the current Sh34.4 million, which caters for former President Mwai Kibaki’s retirement benefits, to Sh42.42 million starting July next year,” the Nation said.
This is a Ksh 666,700 monthly pension rise that Uhuru will be entitled to in accordance with Presidential Retirement Benefit Authority act of 2003.
According to the act, a retired head of the state is entitled to 80 per cent of his pensionable salary which is equivalent to 60 per cent of Ksh 1.4 million, salary of the sitting president.
According to treasury documents, this will make retired president Mwai Kibaki become the most paid serving and retired public servant if effected as he will walk away with a whooping Ksh 2.86 million which is twice as that of the current president Uhuru Kenyatta.
This comes despite a court order in 2015, which suspended the government from paying hefty allowances to former President Daniel Moi and Mwai Kibaki saying it was burdening the taxman.
Already, the country debt is at the rooftop yet the same leaders are pushing for Constitutional Amendments to expand the executive as well as create extra 70 constituencies.
