Statistics
GET TO KNOW US
Postal Corporation of Kenya Staff Pension Scheme was started in 1st January, 2002 and was closed in 31st December, 2009.Postal Corporation of Kenya Pension Scheme is now a closed Scheme. No new employees will be admitted to Membership of the Scheme and no further contributions by existing members. Re-valuation of Accrued Benefits for in-service.
.
CLOSED SCHEME
Postal Corporation of Kenya Pension Scheme is now a closed Scheme. No new employees will be admitted to Membership of the Scheme and no further contributions by existing members. Re-valuation of Accrued Benefits for in-service members and deferred members is at 3% per annum. An explicit allowance for pension increases at 3% applying every 3 years has also been provided for.
REGISTRATION
The Scheme is registered with the Retirement Benefits Authority and Kenya Revenue Authority. (Income Tax Department).
REGISTERED OFFICE
The Registered Office of the Scheme is 9th Floor, SHABuilding,1st Ngong Avenue, Nairobi.
MAIN PURPOSE OF THE SCHEME
To provide pension and other retirement benefits for members upon thier and dependants’ benefits to dependants of deceased members.
USE OF ACCRUED BENEFITS TO SECURE MORTGAGE
Legal notice No. 85 of 2009 effective from 12th June, 2009 allows serving pensionable members to assign upto 60% of their accrued benefits from approved lending institutions.
TRUST DEED AND RULES
The above is a summary of the Scheme benefits and provisions. A more detailed and precise description is contained in the Scheme Trust Deed and Rules
Membership
All staff in service on or before 1st January 2002 became members of the Scheme. All staff subsequently appointed on pensionable status up to 31st December, 2009 and having satisfactorily completed their probationary period. All Postal Corporation of Kenya Pension Scheme Pensioners are also members of the Scheme.
Contributions
No member contributions shall be made to the Scheme by the founder or the member after closing Date i.e. 31/12/2009.
Method of payment (pension & life certificates)
Pension is payable in Kenya Shillings.
- Member is required to advise preferred pay-point (i.e. Post Office, Bank or financial Institution).
- Member is required to give notice in writing to the Trustees of his/her postal address and advise every future change of the address or paypoint.
- Pensioners are required to complete annual life certificates as evidence of existence and eligibility of receipt of Pension.
- Pension is paid in equal monthly installments.
DOWNLOAD THE TRUST DEED AND RULES
