Commutation of pension
Members who retire on or after attainment of fifty (50) years will be paid as follows:-
(i) Payment of a proportion of Pension that may be commuted for cash upto 1/3 of accrued benefit.
(ii) For Pension commuted upto 27,000/= per annum, the commutation terms remain at Kshs. 20:1.
(iii) For the balance of accrued Pension commutation is restricted to an actuarially neutral factor.
(iv) Monthly pension is based on two third (2/3) of accrued Pension.
IN A NUTSHELL
The Scheme is registered with the Retirement Benefits Authority and Kenya Revenue Authority (Income Tax Department).
Main purpose of the scheme
Membership
Contributions
QUOTE OF THE WEEK
When money realizes that it is in good hands, it wants to stay and multiply in those hands.” Idowu Koyenikan
