Annuity
What is an Annuity?
An annuity is the promise to provide the policyholder (annuitant) an income for life, no matter how long you live, by converting a sum of money ( retirement savings) into a series of periodic payments (such as monthly/quarterly, annually)
The amount paid out depends on the length of time desired and the Initial purchase price/amount saved for purchase of the annuity.
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
