guaranteed personal pension plan
The Guaranteed Personal Pension Plan allows you to save conveniently towards retirement and earn an interest on all your deposits.
The funds are invested collectively in safe and stable money market securities such as Treasury Bills and Treasury Bonds, with the objective of providing a guaranteed rate of return to members every year. Returns earned from these investments are paid out to members in the form of interest income.
The interest is compounded on an annual basis until the member attains retirement age and wishes to withdraw the funds. This allows the investment to grow faster than any ordinary investments, because the interest earned also continues to earn more money.
The fund is licensed and regulated by the Retirement Benefits Authority (RBA).
Features and Benefits:
- Minimum deposit of Ksh. 100.
- One can invest at their own convenience.
- No regular deposits required.
- Competitive interest rate and enhanced safety of funds.
- No hidden charges.
- M-Pesa option for deposits (paybill number 501100).
- Interest compounded annually.
- Online statements.
- No minimum balance requirement.
- Your pension contribution is tax exempt up to Kshs. 20,000 per month or 240,000/- per year.
- Once you retire you can withdraw a lump sum amount of Kshs. 600,000 tax free.
The Zimele Guaranteed Personal Pension Plan is ideal for:
- Self-employed individuals.
- People approaching retirement age and looking to consolidate their pension income.
- Those who do not want a risky product for their retirement savings
Safety of Your Money:
The Zimele Guaranteed Personal Pension Plan has NatBank as its Trustee and KCB Bank as its Custodians. The role of the trustee is to safeguard the interests of the members of the Plan. The role of the custodian, who must be affiliated to a commercial bank, is to keep all investment certificates and money safely on behalf of members.