It  has been the fear of many that traditional old-age security systems are crumbling. There has not been a properly defined way to secure the later years of Kenyans especially the self employed who did not have a channel that could save up to their retirement.

However Savings and Credit organizations (SACCOs) which have played an important role in deposit taking and giving loans to their members have a great ability to help their members save for retirement.

Retirement Benefits Authority(RBA) chief executive Edward Odundo says Saccos and pension schemes are key to Kenya's development because they mobilise savings to enable the country realise a savings-to-gross domestic product ratio of 25-28 per cent, as envisaged in the macro-economic framework underpinning the Vision 2030.

RBAs Mbao Pension Plan initiative is one undertaking that is aimed at securing the later days of Kenyans and many have taken it up because of its convenience and supposed ease of saving. The plan allows one to save a minimum of Kshs 20 a day from their mobile money accounts, (MPESA and Airtel Money).

It would be easy for SACCOs to encourage their members to take up such plans or device their own that would see the financial security of their members in the later years.