For decades, a pension was the ultimate reward for a lifetime of formal employment – a financial cushion that could fund a home, buy land or provide security in retirement. But for a growing number of Kenyans, that money is being accessed years before retirement as economic hardship forces workers to cash out after leaving their jobs.

New data from the Retirement Benefits Authority (RBA) and contrasted against the 2026 Economic Survey Report by the Kenya National Bureau of Statistics (KNBS) shows that early pension withdrawals are rising nearly three times faster than formal sector job creation, raising concerns that retirement savings are increasingly becoming a source of short-term survival rather than long-term financial security.