Retirement Benefits

BENEFITS

All the benefits from contributions by a member vest in a member immediately and the retirement benefits accrued from membership shall fully vest in a member within one year of joining membership of the Scheme.


CIRCUMSTANCES UNDER  WHICH RETIREMENT BENEFITS ARE PAYABLE

(i) on or after attaining the Normal   Retirement Date; currently age 60 years

(ii) On or after attaining age 50 with the consent of the Founder.

(iii) On medical evidence to the satisfaction of the Scheme Trustees and the Founder that the member is incapable by reason of any infirmity of mind or body of discharging
       the duties of his office and that the infirmity is likely to be permanent.

RETIREMENT BENEFITS

A member who leaves service after attaining the voluntary retirement age of fifty (50) years and above shall be entitled to:-

Payment of upto 1/3rd of the total benefits i.e. employee and employer balance together with investment income.
The remaining 2/3rd of the benefits shall be used to purchase an annuity from an Insurance Company of member’s Choice. However, a member may if the amount is trivial request the Trustees to be allowed to access the full amount as a lumpsum.
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

LOCATE US

CONTACT US

Postal Corporation of Kenya
Staff Retirement Benefits Scheme
P.O. Box 46621-00100,
Nairobi, GPO
Tel: 020-2737976 / 020- 2720065
Cell: 0702-291369,0788-538132
Email: info@postapension.co.ke

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