Journalists Urged to Plan Early for Retirement Amid Industry Uncertainty

The Media Council of Kenya (MCK) has urged journalists to embrace a saving culture and take proactive steps to secure their financial future amid the uncertainties of the profession.

Speaking during a media sensitisation training on retirement planning and pension reporting in Kisumu, MCK Director for Media Training and Development Victor Bwire said the unpredictable nature of journalism careers makes early financial planning essential.

“Journalism is inherently unpredictable, and one cannot always anticipate when a career may come to an end. Plan for it. No one knows what tomorrow holds. Start saving for your retirement today,” he said.

Bwire noted that many journalists often overlook retirement planning due to the demanding nature of their work, leaving them vulnerable to financial difficulties later in life.

Retirement Benefits Authority (RBA) Assistant Director for Research, Strategy and Planning Ben Kipanga encouraged journalists to take control of their financial future through informed investment decisions.

“Any assistance from your children is given out of goodwill. Avoid depending on them too much. Invest wisely and secure your own future while you can still earn,” he said.

Kipanga revealed that pension schemes in Kenya currently hold assets worth Sh2.81 trillion, representing about 16 per cent of the country’s Gross Domestic Product, with a membership of approximately 4.1 million.

He added that a variety of pension schemes are available to cater for different categories of workers, including freelance journalists and content creators.

MCK Manager for Board Services and Partnership Relations Stella Kaaria urged journalists to share the knowledge gained during the training with their peers to improve reporting on retirement and pension matters.

“The insights gained from this training should not end here. Journalists have a responsibility to cascade this knowledge to their colleagues and enhance the quality of reporting on retirement and pension issues,” she said.

The training, organised by the RBA in collaboration with MCK, brought together journalists from the region to deepen their understanding of retirement planning, financial discipline and pension reporting. It also covered key aspects of the pension sector, including retirement benefits, risk-based supervision, ethics and complaint handling.