Reforming Pension Finance for Long-Term Sustainability in Kenya: Risks, Returns and Regulatory Innovations

Pension finance is one of the pillars of retirement economic security and a source of long-term, stable capital market investment. Kenya, like other emerging economies, has primary challenges of raising pension coverage, managing investment risk, and ensuring retirement benefits sustainability. This research critically examines the structure, performance, and regulation of Kenya's pension finance system, identifies systemic bottlenecks, and recommends reforms to improve resilience, governance, and inclusion.