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Pension products vs NSSF
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kiterunner
#1 Posted : Sunday, July 17, 2011 1:04:18 AM
Rank: Member


Joined: 7/9/2011
Posts: 730
Location: Nairobi
hi everyone,
I am new on wazua. I am a young professional working abroad. I am looking for a pension scheme to join in Kenya but I dont know the relative benefits between saving with NSSF or a retirement product in an insurance company like Jubilee. Would you please advise me from your experiences.

Thank you
our goals are best achieved indirectly
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peep
#2 Posted : Monday, July 18, 2011 4:07:40 PM
Rank: Member


Joined: 3/30/2009
Posts: 56
There is no harm in taking both a pension product and NSSF. NSSF is slowly turning the previously bad image and will soon be very competitive. See their latest financial accounts at http://www.nssf.or.ke/do...l-accounts-2009-2010.pdf
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kiterunner
#3 Posted : Monday, July 18, 2011 8:22:13 PM
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Joined: 7/9/2011
Posts: 730
Location: Nairobi
@peep many thanks, i meant to ask which is better in terms of returns, Does NSSF tell you how much interest they pay and how much tax you will have to pay at the end of the day. I can have both but I would like to know which is better then I can stick to it (or save more with them)
our goals are best achieved indirectly
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Gordon Gekko
#4 Posted : Wednesday, July 20, 2011 12:32:42 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
[quote=peep]There is no harm in taking both a pension product and NSSF. NSSF is slowly turning the previously bad image and will soon be very competitive. See their latest financial accounts at http://www.nssf.or.ke/do...-accounts-2009-2010.pdf[/quote]

I've just looked at the report. A certain lawyer is a creditor to the tune of ksh 293M.(page 27) and is listed as doubtful. Why doubtful???? You have doubtful debtors, but not creditors!! It is either payable or not and you as the recipient of the goods/services are competent to determine whether payable or not.
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Genghis Khan
#5 Posted : Wednesday, July 20, 2011 3:02:21 PM
Rank: Member


Joined: 8/5/2010
Posts: 335
Location: Nairobi
Alexander Forbes Retirement Fund, Individual Pension Plan.... check their website
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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