The Marsh CFA Institute’s 2026 Global Pension Index gave Kenya an overall score of 53.1 points, placing the country in the C grade category.

Within the index, Kenya scored 38.9 points for adequacy, earning a D grade for retirement benefit adequacy, while its sustainability and integrity scores were 53.0 and 76.0 respectively.

The adequacy rating reflects the system’s limited ability to provide sufficient income for pensioners, a concern amplified by rising life expectancy at age 65, which has increased by 2.9 years since 1950.

Kenya’s integrity score of 76.0 points earned a B+ grade, indicating relatively strong regulation, governance, protection and communication mechanisms.

Fred Waswa, group chief executive of Octagon Africa, noted that Kenya’s inclusion in the index provides a benchmark for assessing progress and identifying needed reforms in retirement adequacy.

Octagon Africa contributed local data and insights through its partner Alexforbes to support Kenya’s entry into the assessment, helping to shape the baseline for future performance tracking.

The index, covering 55 retirement income systems and more than two‑thirds of the global population, grades systems from A to E based on weighted categories: adequacy (40%), sustainability (35%) and integrity (25%).

Kenya’s C‑grade overall places it behind leading nations such as the Netherlands, Denmark, Iceland, Singapore, Israel and Australia, which achieved A grades in the 2026 ranking.

The inaugural rating is intended to serve as a reference point for policymakers and industry stakeholders to improve benefit adequacy while preserving the system’s governance strengths.