Anyone earning an income can join a pension scheme. The Retirement Benefits Authority register all individual pension schemes in Kenya.
Remember, saving a little by little over a long period of time will ensure you do not suffer from old age poverty. Kindly start saving today when you have energy to generate income. There shall come a time when you shall dearly need the savings. The time is now.
Here are the benefits of saving through a registered pension plan:
Here is why should you think about saving for retirement:
These are the benefits of saving through a registered pension scheme:
Here is a list of your rights as pension scheme member:
Your pension savings are protected by law. Rest assured that:
The role of the Retirement Benefits Authority in the management of your scheme:
The Retirement Benefits Authority (RBA) will continually supervise your scheme and receive quarterly and annual submissions from the trustees and service providers through its online portal.
RBA will calculate a risk score for your scheme between 1 – 5 based on 34 risk indicators covering Governance, Prudential and Market Conduct factors – In case of high-risk score RBA will take supervisory action against your scheme.
How to file a complaint
In case you have a problem with your scheme or service provider you can file a complaint to RBA. You can use RBA’s online complaints reporting portal http://portal.rba.go.ke/complaints or email firstname.lastname@example.org or in person
How to contact RBA:
For queries regarding the Retirement Benefits Industry or your pension scheme please call RBA on toll free number: 0800720300 and follow the prompts. You can also write to RBA via email: email@example.com. More other information can be found on RBA website: www.rba.go.ke.
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