How to join an Individual Pension Scheme

Anyone earning an income can join a pension scheme. The Retirement Benefits Authority register all individual pension schemes in Kenya. To join one just visit our website for the list of individual plans and join any that offers a product that suits your income. [Click here to view the list of IPPs]. Most individual pension plans now have flexible saving…

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Parliament Approves Mortgage Regulations Allowing Pension Scheme Members to Buy Residential Houses Using a Portion of their Benefits

Members of retirement benefits schemes would soon start purchasing residential houses using part of their pension savings. This follows the gazettement of The Retirement Benefits (Mortgage Loans) (Amendment) Regulations 2020 vide Legal Notice 192 dated 14th September 2020. Pension schemes have 12 months to domesticate the regulations and guide their members on how to access the funds. According to the…

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Why your Money in Retirement Benefits Schemes is Safe

Following reports in a section of the press insinuating that saving for retirement through individual pension plans is more unsafe than in occupational pension schemes, the Retirement Benefits Authority wishes to clarify as follows: Both Occupational Pension Schemes and Individual Pension Schemes are regulated under the same law under the watch of the Retirement Benefits Authority whose key mandate is…

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Public Participation to the Retirement Benefits (Mortgage Loans) (Amendment) Regulations, 2020

Section 38 of the RB Act was recently amended to allow members of retirement benefits schemes to utilize a proportion of their accrued benefits to purchase a residential house. Pursuant to Section 55 of the RB Act, the Authority will be proposing to the Cabinet Secretary amendments to the Retirement Benefits (Mortgage Loans) Regulations to operationalize the new provision. In…

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Operationalization of the Revised Section 38 of the Retirement Benefits Act (1997) on Accessing Retirement Benefits For Purchase of Residential House

The Retirement Benefits Authority wishes to bring to the attention of the pension industry, the Kenya Tax Laws (Amendment) Act 2020 that was assented by His Excellency President Uhuru Kenyatta on the 25th April 2020. The new Act, has amended Section 38 of the Retirement Benefits Act (1997) to allow partial access of retirement benefits for purposes of purchase of…

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Exemption from Compliance

An exemption from compliance with section 34(4C) of the Retirement Benefits Act has been officially gazetted by the Cabinet Secretary for the National Treasury. The exemption will apply  for a period of 60 days with effect from the 1st April 2020. Please see the extract below for your reference. [wpdm_package id='4519']

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REMARKS BY NZOMO MUTUKU, MBS, CHIEF EXECUTIVE OFFICER, RETIREMENT BENEFITS AUTHORITY, DURING OCTAGON PENSION SERVICES’ UNVEILING OF A GLOBAL STRATEGIC BUSINESS PARTNERSHIP AT THE HOTEL INTERCONTINENTAL, NAIROBI, MARCH 3, 2020

Chairman and Board Members, Octagon Pension Services, Group CEO, Management and Staff, Octagon Pension Services, Representatives of Alexander Forbes Financial Services Distinguished Guests Ladies and Gentlemen, I’m glad to be here on this auspicious occasion marking one of our service providers’ entry into a global partnership. This is indeed a clear testament that a business that is focused and innovative…

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REMARKS BY MR. NZOMO MUTUKU, MBS, CHIEF EXECUTIVE OFFICER, RETIREMENT BENEFITS AUTHORITY, DURING THE EAVCA LAUNCH OF PE INVESTING GUIDE ON TUESDAY 15, OCTOBER 2019, NAIROBI

REMARKS BY MR. NZOMO MUTUKU, MBS, CHIEF EXECUTIVE OFFICER, RETIREMENT BENEFITS AUTHORITY, DURING THE EAVCA LAUNCH OF PE INVESTING GUIDE ON TUESDAY 15, OCTOBER 2019, NAIROBI Ladies and Gentlemen It is a great pleasure and honour to officiate the launch of the EAVCA PE Investing guide which is a vital informational tool particularly for pension sector. I am aware that…

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