The Authority has since inception utilized compliance- based supervisory model to oversee the pension industry. A strategic plan will enable both the members and trustees to have a clear understanding of the ‘Big Picture’,” Mr. Simon Wafubwa, CEO Enwealth Financial Services said.RBA has developed a Trustees Development Program – Kenya (TDPK) to equip ttrustees with the basic skills to run and advice on funds investment.“Trustees of such pension schemes are tasked with ensuring that funds are invested in such a way as to secure competitive returns,” Enwealth Financial services CEO added.The RBA representative also said there have been instances of Trustees by pass fund managers or ignore advice like title verification during Investment in property and private equity.

There are over 6000 trustees, 21 fund managers, 30 administrators and 11 custodians.He was giving an address during the annual Trustees Forum organized by local pension administrator, Enwealth Financial Services. Comment. The local pension industry has expanded quite rapidly from Sh100 billion asset base in 2000 to the current Sh1.08 trillion. Our Mandate; Vision, Mission & Core Values; Service Charter; Board of Directors; Departments; Achievements & Awards; Corporate Social Responsibility Examples of Defined-Benefit Pension Plans . The event themed “Breaking Barriers and Redefining Leadership in Africa” will be attended by senior[...]Kenyan Wallstreet is a leading integrated digital media business content platform providing in-depth business and financial news across Sub-Saharan Africa and the globe. These are the acts that govern the retirement benefits for the various individualsThe Authority has since inception utilized compliance- based supervisory model to oversee the pension industryThe Retirement Benefits Authority (the RBA) has as one of its mandates under section 5 of the Retirement Benefits ActThe modern world is in a continuous movement and people everywhere are looking for quick, safe means of accessingThe Authority has since inception utilized compliance- based supervisory model to oversee the pension industry.These includes: CBK, Capital Markets Authority, Insurance Regulatory Authority, The Actuarial Society of Kenya among others.RBA has a number of schemes which includes: Defined Contribution and Defined Benefit & Provident Fund and Pension FundThe registered schemes include: Registered Umbrella Schemes & Individual Retirement Benefits SchemesSchemes in Kenya are required under section 23 to apply for registration in order to be allowed to operate.These are the changes affecting how Trustees are expected to administer Retirement Benefits SchemesThere are various forms under this category, which includes: FORM A4, FORM A5 & form A3The retirement benefits levy is imposed under Section 16 of the Act and is payable as per the rates prescribed “Trustees of such pension schemes are tasked with ensuring that funds are invested in such a way as to secure competitive returns,” Enwealth Financial services CEO added. The Retirement Benefits Authority is working on new guidelines for pension schemes to enhance governance in bid to address emerging issues and safeguard workers retirement savings.The National Retirement Benefits Policy which is under development in collaboration with the National Treasury envisages coverage of all Kenyan workers to ensure they have a retirement plan.Speaking last weekend, RBA’s Manager Market Conduct, Tom Kiptanui said, “Currently, we have just 19% coverage of the workforce. You can change that by starting saving todayThere are schemes that are aimed at helping people self-employed to save for their futureJoin a scheme that fits your requirements as you prepare for your retirement.What if I start saving now? The Retirement Benefits Authority (the RBA) has as one of its mandates under section 5 of the Retirement Benefits Act. Home; About Us. It has been said that some of the proposals mooted by the Retirement Benefits Authority (RBA) will chase major pension schemes offshore.

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