Government Plan to Introduce New Subject in Primary & Secondary Schools

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Primary and secondary school students will soon undertake a financial subject as part of their curriculum, as the government endeavors to foster a culture of saving in the nation.

The plan aligns with the National Retirement Benefits Policy, drafted by the Treasury, aimed at bolstering compliance with the National Social Security Fund (NSSF) Act.

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The proposal stems from the observed low coverage of retirement benefits, urging the Kenya Institute of Curriculum Development (KICD) to spearhead curriculum revisions.

The target is to finalize the new curriculum by December 2025, with the focus of government integrating financial education subject  into basic education (Primary and secondary) and launching financial literacy programs for specific demographics.

Students at Starehe high school taking exams ;Image/File

The policy’s rationale, outlined by the Treasury, emphasizes the challenges faced by many Kenyans upon retirement, particularly due to inadequate savings.

While formal sector employees often access retirement benefits, those in the informal sector are largely excluded. The government’s socio-economic development strategy, BETA, underscores the imperative of providing a high quality of life for citizens, necessitating comprehensive policies to address retirement benefit coverage disparities.

Moreover, the majority of retirees struggle to meet healthcare and housing needs, compounded by limited post-retirement medical and housing benefits from existing schemes. Consequently, the government is devising a framework to encourage savings for retirement homes and post-retirement medical expenses.

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