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Postal Corporation of Kenya Staff Retirement Benefits Scheme was started in 1st January, 2010. The Scheme is registered with the Retirement Benefits Authority and Kenya Revenue Authority (Income Tax Department).The Registered Office of the Scheme is 9th Floor, SHA Building,1st Ngong Avenue, Nairobi.
COMMENCEMENT DATE OF THE SCHEME
1st January, 2010
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, SHA Building,1st Ngong Avenue, Nairobi.
MAIN PURPOSE OF THE SCHEME
To provide Pension and other retirement benefits for members upon their retirement and dependants’ benefits to dependants of deceased members, payable in accordance with the provisions of the TRUST DEED AND RULES.
Membership and Contribution
MEMBERSHIP
All staff in service on or after 1st January, 2010 became members of the Scheme. All staff subsequently appointed to enter employment of the founder and having satisfactorily completed their probationary period become eligible members.
CONTRIBUTIONS
Member: 7.5% of basic salary less contributions to the National Social Security Fund; Sponsor contributes 12% less contributions to the National Social Security Fund. The Scheme is a Defined Contribution Plan is factorily completed their probationary period become eligible members.
LIMITATION OF MEMBER CONTRIBUTIONS
Under the Income Tax Act the aggregate contribution of a member shall not exceed 30% of pensionable salary subject to a maximum of Kshs. 240,000.00 per annum or Kshs. 20,000.00 per month.
ADDITIONAL VOLUNTARY CONTRIBUTIONS (AVCs)
A member may pay an additional voluntary contribution (AVC), and it shall be credited to and become part of the member’s portion. The member may only reduce or stop paying such contributions with the consent of the Scheme Trustees in case of exceptional financial hardship, retirement, or in the event of earlier withdrawal from membership of the Scheme. The trustees shall determine interest on AVC based on return on investments. To make additional contributions, visit the Media Centre download area and download the form.
