Retirement Benefits Authority (RBA) is a regulatory body under the National Treasury, established under Retirement Benefits Act. The Retirement Benefits Act was enacted as part of the on-going reform process in the financial sector in order to bring the retirement benefits industry under a harmonized legislation, to address the many problems that have hitherto faced the industry. The enactment of this Act filled a regulatory vacuum which had existed in Kenya. At the time the Authority came into existence, retirement benefits schemes in Kenya were regulated by fragmented legislation, mostly Trust and Income Tax Laws. The absence of specific retirement benefits regulations allowed schemes to adopt different styles of operation. Commonly, sponsors (employers) dominated the operations of industry while members and beneficiaries were largely marginalized.