Pension funds are a principal source of retirement income and an essential contributor to economies' gross domestic product (GDP). Occupational Pension Schemes, a subset of pension funds, have been the most vulnerable to governance malpractices in Kenya, resulting in the loss of billions of pension assets and low returns on investments. Therefore, this study sought to investigate the effect of governance structures on the return on investments of occupational pension schemes in Kenya. The research was anchored on the Agency theory. A causal research design was employed. The study targeted a population of one hundred and fifty (150) occupational pension schemes registered by the Kenya Retirement Benefits Authority as of December 2021. A census sampling technique was applied where the entire target population was selected. The study used primary data collected using questionnaires tested for validity and reliability. Pearson correlation analysis was used to test the association and direction between governance practices and return on investments. It was established that governance structures had a strong positive association with return on investments (r=0.591). The study findings revealed that the critical t-value was higher than the tabulated-values. This led to rejecting the null hypothesis that corporate governance structures has no significant effect on return on investments of occupational pension schemes in Kenya. The study concludes that governance structures positively and significantly affect the return on investments of occupational pension schemes in Kenya. As a result, the study recommends that occupational pension schemes should always embrace governance structures and the initiative to seal existing governance lapses.