Our Personal Retirement Scheme gives a minimum guaranteed interest of 4% per annum: This interest is earned on a daily basis and ensures that small, regular contributions grow into significant retirement savings over time.
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The contributions to your Personal Retirement Scheme remain yours whether they are self-funded or employer-funded, even if you change your job or are no longer in employment for any reason.
From as low as KES 1,000 per month, you can set up your Personal Retirement Scheme or pension plan.
You can make such a
transfer from other registered funds to ICEA LION’s Personal Retirement Scheme tax free.
The contributions you make are invested in various financial instruments with a minimum guaranteed interest of 4% per annum. This interest is earned on a daily basis and ensures that small, regular contributions grow into significant retirement savings over time.
You can make your contributions monthly, quarterly, half-yearly or annually depending on your plans. You may change the frequency and amount of contribution at any time so long as it is not less than KES 1,000 per month. You can make contributions through salary deductions, M-Pesa payments or direct debits with your financial institution.
Pensions are also governed by the Income Tax Act (Cap 470) and valuable tax advantages are provided for in the act. Subject to certain limits, your contributions, investment growth and benefits will all be tax-free. Any contribution exceeding the tax-exemption limit is invested separately, in a taxable fund.
60% of your accumulated pension savings can be used as additional security by a lender for your mortgage.
Treatment of Fund in Unfortunate Case of Demise: In the unfortunate event of the demise of the retirement scheme member, their nominated beneficiaries will receive your accumulated pension benefits.
Illustration of Estimated Earnings: Assuming you make contributions for 15, 20 and 25 years at KES. 2,000 and KES. 15,000 per month, the following will be the growth assuming a 10%* per annum rate.
The 8 year Declared Net Rate of Return which was credited to member’s contributions is as follows:
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