Retired President Mwai Kibaki is set to become the best paid serving and retired public servant, Treasury documents have revealed.
The Treasury’s Budget estimates that are before Parliament for approval indicate that Mr Kibaki’s pension and perks will stand at Sh34.43 million in the financial year set to start in July. This will translate to a monthly average payment of Sh2.86 million.
This is the first time Mr Kibaki’s own pension is appearing in the Budget estimates given that it has since 2013 been lumped with that of President Daniel arap Moi. The payment of Moi’s pension was discontinued when he died on February 4.
At Sh2.86 million, Mr Kibaki’s average monthly payout is more than double President Uhuru Kenyatta’s official salary of Sh1.44 million. It also puts his benefits higher than the salaries and allowances of top chief executives of State-owned firms like KenGen, Kenya-Re and Kenya Power.
Under the proposed budget, Mr Kibaki’s monthly pension is slightly shy of the allocation set for Mr Kenyatta’s and his deputy, William Ruto’s, combined average monthly pay of Sh3.3 million.
A retired president’s monthly pension is set at 80 percent of the salary paid to the sitting president.
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