The head of Kenya's pension fund, the National Social Security Fund, has rejected criticism of the way the fund is being managed and insisted that its finances are sound.

David Masika was reacting to an independent report which said the fund had made bad investment decisions -- including buying plots of land from Kenyan politicians at vastly inflated sums.

Mr Masika told the BBC he'd put an end to investments in land when he took over at the Fund fifteen months ago, and he pledged full transparency.

A parliamentary inquiry is now looking into the allegations of mismanagement.