Pension

The NSSF Tier II came about because of the NSSF Act 2013. One of the biggest wins of this act was the “Opt-Out” provision for Tier II allowing the private sector to “contact out”, which is our main focus today. In this article, I will take you through the act, understanding of NSSF Tier I

Income drawdown is one of the two retirement income products in Kenya. The other one is an annuity. Income drawdown is an alternative to the traditional annuity. It is a variable annuity that allows a retiree to receive an income regularly from their retirement savings, while keeping the balance invested in a guaranteed fund. This

A pension annuity is one of the retirement income products. The other one is the income drawdown. An annuity is offered by insurance companies to retiring members of a pension scheme. It is designed to bring a regular income for life in exchange for a lump sum retirement savings.  Why insurance companies? Because it works

An individual retirement plan is a scheme that allows an individual to build retirement income by making regular contributions during one’s working life. Your retirement savings grow steadily over time while earning interest. On attaining your preferred/selected retirement age, you get paid your accumulated retirement benefits in accordance with the terms of your policy. When

At retirement, what are your pension options? This is a question you should ask yourself early enough before your retirement date. There are 3 ways to go about it, depending on the retirement planning product you have, either a pension or a provident fund, and you need to understand each well, since they determine how