About the scheme

Postal Corporation of Kenya Staff Pension Scheme

DATE OF COMMENCEMENT

1st January, 2002

DATE OF CLOSLURE

31st December, 2009.

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, NHIF Building,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.

SCHEME LATEST NEWS

QUOTE OF THE WEEK

When money realizes that it is in good hands, it wants to stay and multiply in those hands.” Idowu Koyenikan