If you have attained the retirement age of at least 50 years old, you are entitled to receive a lump sum of up to Ksh.600,000 from your pension benefits, free of income tax.
The Income Plan enables you to structure a monthly income from your pension benefits.
How Does It Work?
This plan invests your pension income in secure financial assets like treasury bills and bonds, and pays you an income every month (or any other period you choose) from the returns.
First, you need to build your pension savings in the accumulation phase. You do this through the Zimele Guaranteed Pension Plan. Once you are at least 50 years, you can start the Guaranteed Income Plan with the savings you have accumulated.