@ leona. As i said all you get is insurance agents advicing on unit trust linked product .... not pension plans. We shall continue in the dark!! @ winner A pension plan is payable on retirement as a lump sum or some other defined payout. This 15 year business imetoka wapi?? Please assist with information on pension plans. You can visit that department that actually deals with pensions,tomorrow or whenever you are back in the office claiming your commisions,ask a few questions and come tell us about it. You will have saved alot of us alot of time and you will have won a client or two!! Think about it dont churn out the unit linked propaganda get us the info,please!! @layman i agree this is not a pension plan!!! SK A.L.U.M.N.I (Alcoholic Liason and Undergarments Manager of Nakedness Internationally)

@tonystark Hi, Britak has several personal pension plan packages tailored to meet each client's need.According to my analysis,the package i've described here is indeed the best personal pension plan we have so far 'coz of it's flexibility,optional protection benefits combined with it's superior returns. The 15yr term was just an example.I actually indicated that this is determined by one's current age and desired retirement age e.g one person may plan to retire at 45yrs another at 60yrs.coz it's a PERSONAL PENSION plan,the retirement age is ONLY DETERMINED by the client not the govt or any other party. In my view,there seems to be certain specifications that u r looking for to qualify a package as a personal pension plan.Just highlight them for me and i'll be grateful to give you more info.As i said earlier,Britak has different pension packages tailored with the understanding that different people have different needs and tastes. winners never quit and quiters never win

@Gordon Gekko Hi, I think it's only prudent of any organisation to TAILOR products that are competitive and suit their target market. As times are changing,most people plan to retire early and honorably.(retirement=stop working for money),and instead have the money they have earned\saved,work for them as they have time to e.g play golf and enjoy other luxuries of life with their families,that their busy working schedules may have denied them.This is with the understanding that life is not a rehearsal,you only live it once. Those in this target market do not wish that anyone dictates to them when to retire. Infact,one can even retire at thirty or thirty five if one PLANS to do so and committedly follow their laid down plan. In order for one to send their money to work without being physically involved,one needs time to THINK,thus the need to ''RETIRE EARLY FROM PHYSICAL LABOUR'. The particular PERSONAL PENSION PLAN i've illustrated here is tailored for this target market. Britak has tailored for another target market,a personal pension package with the specifications you gave e.g retirement age specified and defined benefits.I'll be giving info on it soon. At the end of any undertaking,the bottomline is ROI. winners never quit and quiters never win

RETIREMENT BENEFITS SCHEMES: A COMPARISON OF THE FOLLOWING OPTIONS - A Guaranteed Umbrella Pension/Provident fund - A Guaranteed Stand Alone Pension/Provident Fund - A Guaranteed Individual Pension Fund Umbrella Pension / Provident Fund Stand Alone Pension/ Provident Fund Individual Pension Fund Target Market Small & Medium Organizations Medium and large organizations Individuals and small organizations Key Benefits - Reduction in tax liability by employee & employer - Interest income not taxed - Compound interest allocation - Guaranteed interest rate - Accrued contributions & interest guaranteed - A secure income in retirement - A lump sum fund before retirement - generous tax exemption on payable benefits - boosts employee morale - Other optional insurance rider benefits e.g. last expense,group life, GPA,medical etc - Reduction in tax liability by employee & employer - Interest income not taxed - Compound interest allocation - Guaranteed interest rate - Accrued contributions & interest guaranteed - A secure income in retirement - A lump sum fund before retirement - Generous tax exemption on payable benefits - boosts employee morale - Other optional insurance rider benefits e.g. last expense,group life, GPA,medical etc - Reduction in tax liability by policy holder - Interest income not taxed - Compound interest allocation - Guaranteed interest rate - Accrued contributions & interest guaranteed - A secure income in retirement - A lump sum fund before retirement - generous tax exemption on payable benefits - Other optional insurance rider benefits e.g. last expense,group life, GPA,medical etc Scheme set up Employer: - Signs a Deed of Adherence to the Umbrella Trust Deed - Decides the contribution rate by employee / employer,the rule governing entitlement to employer benefits,normal retirement age and whether pension or provident fund Employer: - Draws & executes a Trust Deed & Rules (assisted by Britak) - Decides the contribution rate by employee / employer,the rule governing entitlement to employer benefits,normal retirement age and whether pension or provident fund The Individual Applicant - joins the scheme simply by completing an enrolment and a beneficiary nomination form - Decides the monthly contribution amount (minimum: Kshs.5,000.00) and normal retirement age Umbrella Pension / Provident Fund Stand Alone Pension/ Provident Fund Individual Pension Fund Registration status with KRA & RBA The Umbrella Fund is already registered with KRA & RBA,each participating employer joins by simply executing a Deed of Adherence The scheme has to be registered independently with both KRA & RBA in order to enjoy the privileges of a registered scheme The Fund is already registered with both KRA & RBA. You join simply by completing an enrolment form Trusteeship British-American Insurance provides the trusteeship service. Trustees must meet once every quarter Employer and employees nominate the trustees at a 50/50 split,a minimum of 4 trustees are required. Trustees must meet once every quarter. British-American Insurance provides the trusteeship service. Trustees must meet once every quarter Vesting Rule - Employees are entitled to own contributions 100% always - Employees are entitled to employer contribution 100% from the second year of membership. Before one year,the employer decides the level of entitlement. - Employees are entitled to own contributions 100% always - Employees are entitled to employer contribution 100% from the second year of membership. Before one year,employer decides the level of entitlement. The policy holder is entitled to all the contributions 100% at all times. Guarantee on Contributions and interest rate - Accumulated contributions and interest are guaranteed against reduction throughout. - Annual interest rate is guaranteed not to fall below 5%. - Accumulated contributions and interest are guaranteed against reduction throughout. - Annual interest rate is guaranteed not to fall below 5%. - Accumulated contributions and interest are guaranteed against reduction throughout. - Annual interest rate is guaranteed not to fall below 5%. History of Net Interest Rates 2003 – 10.00% 2004 – 07.50% 2005 – 10.25% 2006 – 18.00% 2003 – 10.00% 2004 – 07.50% 2005 – 10.25% 2006 – 18.00% 2003 – 10.00% 2004 – 07.50% 2005 – 10.25% 2006 – 18.00% 2007 -10.50% Annual Fund Statement - Each member gets a personal annual statement. - The employer gets a consolidated fund statement - Each member gets a personal annual statement. - The employer gets a consolidated fund statement Each Policy Holder gets a personalized annual statement. Running Costs (note; Administration fee is free in the first year) - Administration fee: 3% of annual contributions, charged against interest at the end of the year - Fund management / investment fee: 0.125% of fund balance at year end - Administration fee: 3% of annual contributions, charged against interest at the end of the year - Fund management / investment fee: 0.125% of fund balance at year end - Administration fee: 3% of annual contributions, charged against interest at the end of the year - Fund management / investment fee: 0.125% of fund balance at year end Umbrella Pension / Provident Fund Stand Alone Pension/ Provident Fund Individual Pension Fund Running Costs Continued… - R.B.A Levy: 0.2% of the net annual fund at year end - Audit Fee: Participating schemes share the annual audit cost equally,about Kshs. 2,000.00 per year. - R.B.A Levy: 0.2% of the net annual fund at year end - Audit Fee: about Kshs. 30,000.00 per year. - R.B.A Levy: 0.2% of the net annual fund at year end - Audit Fee: Participating policyholders share the annual audit cost equally,about Kshs.2,00.00 per year. Annual Members meeting Arranged by British-American for members Arranged by the Trustees for all members Arranged by British – American for policy holders. Other optional Insurance rider benefits Group Life,GPA,Medical,Last Expense and General Insurance for the organization Group Life,GPA,Medical,Last Expense and General Insurance for the organization Life Policies,Unit trust,Home Insurance,Personal Accident Cover and Mortgage Protection For further details,please contact winnerkariuki@gmail.com winners never quit and quiters never win

First; if you are only an Individual Pension (IPP) Scheme,there is no mandatory retirement age. You decide for yourself at the time of joining...it can 80yrs or 40yrs or anything that suits YOU. Second,returns from pensions schemes are nothing to write home about; you will be lucky to get above 10%pa. However,don't forget the tax exemption benefit....but you lose it if you withdraw the money before your declared retirement age. @Leona; I used to have an IPP at CFC Life; one nice afternoon I passed by there to find out why they hadn't been sending me satements for three years. I found out that the scheme had been earning about 6% during the 3yr period! I closed the account immediately and withdrew ALL the cash....veterans will remember my thread about 'a million bob sitting in a dormant pension account' In short...CFC Life is not very good...administratively and in terms of returns. My wife has an IPP at ICEA; returns are quite good (compared with the joke at CFC) and they keep her informed regularly. A final word on IPPs: treat them like ordinary pensions for employed people. Don't put more that abou 5% of your gross income...remember,NSSF take only abour 400bob!! A pension is NOT you main investment scheme. Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)