SETTING UP A PERSONAL RETIREMENT PLAN
1)Are you considering enlisting with a Personal Retirement Plan (PRP)?
2)Do your require guidance in the process?
3)Do you want to draw from a vast wealth of experience on personal retirement plans in Kenya?
APEX PENSION LIMITED will guide you in the process of setting up a Personal Retirement Plan. With the Key Human Resource with experience spanning over 30 years in handling PRPs, we are well equipped in provision of PRPs set up advice.
We are committed to delivering tailored services that suit the unique requirements of our clients. We do this by developing the right mix of products, professional services, skills and teams across functional and technical areas that support our ability to produce integrated solutions.
Why set up a Personal Retirement Plan?
The benefits of enlisting include the following:-
1)Flexible mode of contributions i.e monthly, quarterly, half yearly and annually
2)Choice of retirement age
3)Tax benefits on contributions and benefits
4)Discipline in saving
5)Ease of performance monitoring
6)Provision of income at the end of one’s working life
Entry documents
Each of the members will be required to complete the attached Application Form which should be returned together with a copy of the National Identity Card or Passport as scanned copies via email or hard copies to the address at the foot of this brochure.
Contributions
Whereas the minimum contribution is Kshs.500/-, members are encouraged to contribute as much as possible to ensure that they not only take full advantage of the tax concessions but also enhance their retirement package. The contributions can be made monthly, quarterly, half yearly or annually and gaps in contributions will not be penalized.
For rapid funds growth members are allowed to top up their funds with lump sum payments.
Employers can also contribute to in respect of a member or members.
The contributions could be made by banker’s standing order, mpesa, or cheques.
Investment
The funds are pooled together to enjoy economies of scale.
Withdrawal Benefits
Where a member leaves employment for reasons other than retirement the same is allowed to access 100% their own portion and 50% of employer’s portion. The balance of 50% is kept in the scheme until the member attains his/her selected retirement age. However, where the reason for leaving employment is incapacitation, disability or emigration, the member is allowed 100% access to full benefits.
Retirement Benefits
The benefits at retirement depends on whether the scheme selected is a pension scheme or a provident fund
Provident Fund – under this arrangement the member is paid 100% of the accumulated funds as a lump sum.
Pension scheme – here the member is paid 1/3 of the accumulated fund as a lump sum and the balance of 2/3 is used to purchase a monthly pension.
Monitoring
Members can monitor the performance of the fund through the annual statements that will be provided directly to them as well as by attending the annual general meeting.
Fees
We charge a one off set up fee of Kshs.30,000/-.
The time to start saving is now!Call us on 0722 867 423 / 0735 519 960 for details