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DP Ruto’s Huge Retirement Package To Reduce Drastically As MPs Seek To Slash Retirement Packages For State Officials

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Deputy President William Ruto will be the most affected by the new Bill by Members of Parliament seeking to slash retirement packages for state officers.

Reports indicated that the Members of Parliament were mandated to amend the Retirement Benefits of the Deputy and President and Designated State Officers 2015 Act.

Reports further indicated that Dp Ruto’s benefits were classified as excessive prompting the National Assembly’s Constitutional Implementation Oversight Committee (CIOC) to advise the MPs to revise the package.

When recommendations are made, the Second in Command will be hit harder as he will be paid a lump sum which is equal to the sum of one year’s salary from the day he stepped into the office.

The Former Chief Justice David Maraga will also be affected by the move to slice the retirement package for state officials.

The Orange Democratic Movement (ODM) leader Raila Odinga, Wiper Party leader Kalonzo Musyoka and Former Chief Justice Willy Mutunga will also be affected by the cuts which are likely to touch the monthly pension that they have been receiving.

The National Assembly, the Senate speakers, and the Deputy Chief Justice will also feel a pinch of the retirement package recommendations.

In May 2021, the Government allocated Ksh72 million as gratuity for retired Presidents as defined in the recurrent expenditure estimates for the 2021/2022 financial year tabled before Parliament.

The Treasury formulated a new budget item tagged ‘gratuity for retired Presidents’ that would begin in July 2022 after the end of President Uhuru Kenyatta’s term.

The monthly pension for retired Presidents will also rise from the Ksh34,426,600 to Ksh42,426,600 in 2022, Ksh42,776,149 in 2023)l and Ksh47,053,765 in the 2024.

The MPs’ retirement benefits will also increase from KSh983,170,000 in 2021 to KSh1,827,265,440 in the 2022 financial year.

The new development came as a continual debate by political heavyweights raging on President Kenyatta’s future after his term comes to an end.

The post DP Ruto’s Huge Retirement Package To Reduce Drastically As MPs Seek To Slash Retirement Packages For State Officials appeared first on CmaTrends.

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