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Lolest!		#41 Posted : Sunday, February 15, 2015 3:59:07 PM
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma		kerich wrote: I understand that the discussion is about personal pension plan. Nonetheless, I would like to be brought upto speed on what the law says in regard to employers role in employees pension scheme. Is it mandatory by law for private sector employers to put their staff on a pension scheme over and above the monthly NSSF provident contribution of Ksh 200? In this case whatever amount the employee contributes, the employer also contributes similar amount towards the employees pension. Or is the employer at liberty not to get involved in any way over the employees pension arrangements private or otherwise? Someone please shed some light. No. The only requirement is the minimum set by NSSF Most private companies have no pension
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Lolest!		#42 Posted : Sunday, February 15, 2015 4:04:46 PM
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma		Boris Boyka wrote: Lolest! wrote: whiteowl wrote: Everybody should be the architect of his/her own pension plan. Thinking that someone other than ourselves has a great pension plan template for us and all we have to do is fit in is a grave mistake. Pension is not an investment! Put a low amount aside like 5% then invest the rest wherever you want When you are doing it yourself (personal), the two terms (investment & pension) are NOT mutually exclusive. would you want your pension fund somewhere not to gain anything? Isn't putting money somewhere to gain an "investment"? however small it may be The misuse of emoticons aside, yes, those two are mutually exclusive If we regarded it as an investment, we would rush to higher yielding ventures and dump this moderate yield option which is why governments give tax relief for it!
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Boris Boyka		#43 Posted : Sunday, February 15, 2015 8:45:23 PM
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here		Lolest! wrote: Boris Boyka wrote: Lolest! wrote: whiteowl wrote: Everybody should be the architect of his/her own pension plan. Thinking that someone other than ourselves has a great pension plan template for us and all we have to do is fit in is a grave mistake. Pension is not an investment! Put a low amount aside like 5% then invest the rest wherever you want When you are doing it yourself (personal), the two terms (investment & pension) are NOT mutually exclusive. would you want your pension fund somewhere not to gain anything? Isn't putting money somewhere to gain an "investment"? however small it may be The misuse of emoticons aside, yes, those two are mutually exclusive If we regarded it as an investment, we would rush to higher yielding ventures and dump this moderate yield option which is why governments give tax relief for it! Among definitions of "invest" are: 1.To commit money or capital in the hope of financial gain. 2. To spend money, time,or energy into something, especially for some benefit or purpose. Amount of gains are not specified but we have little/low,.moderate/average & high/super gains; you have talked of moderate. From what i know high returns ventures are highly risky and you may loose your capital and the reverse is true. That is the reason gvt insists such funds (pension) being critical MUST not be lost.....tax releifs are "compensations" on restricted business. I normally use the terms bad, fair & good when refering to an investment. * shame on you hujui the def of invest the emoji are okay...you should have asked my interpretations. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Lolest!		#44 Posted : Sunday, February 15, 2015 10:23:16 PM
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma		Boris Boyka wrote: Lolest! wrote: Boris Boyka wrote: Lolest! wrote: whiteowl wrote: Everybody should be the architect of his/her own pension plan. Thinking that someone other than ourselves has a great pension plan template for us and all we have to do is fit in is a grave mistake. Pension is not an investment! Put a low amount aside like 5% then invest the rest wherever you want When you are doing it yourself (personal), the two terms (investment & pension) are NOT mutually exclusive. would you want your pension fund somewhere not to gain anything? Isn't putting money somewhere to gain an "investment"? however small it may be The misuse of emoticons aside, yes, those two are mutually exclusive If we regarded it as an investment, we would rush to higher yielding ventures and dump this moderate yield option which is why governments give tax relief for it! Among definitions of "invest" are: 1.To commit money or capital in the hope of financial gain. 2. To spend money, time,or energy into something, especially for some benefit or purpose. Amount of gains are not specified but we have little/low,.moderate/average & high/super gains; you have talked of moderate. From what i know high returns ventures are highly risky and you may loose your capital and the reverse is true. That is the reason gvt insists such funds (pension) being critical MUST not be lost.....tax releifs are "compensations" on restricted business. I normally use the terms bad, fair & good when refering to an investment. * shame on you hujui the def of invest the emoji are okay...you should have asked my interpretations. the purpose is not to gain financially, or grow the amounts Just to create a 'defence' as you have other ventures that attack, etc So, away from semantics and emoticon issues, you also think having a pension is not good?
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Boris Boyka		#45 Posted : Sunday, February 15, 2015 10:42:44 PM
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here		Away from that. Pension is very important and i believe that all kenyans should have it regardless of whether in public,private and self employment. Am not sure of legislations governing such. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rankaz13		#46 Posted : Monday, February 16, 2015 10:04:10 AM
Rank: Elder Joined: 5/21/2013 Posts: 2,841 Location: Here		http://www.rba.go.ke/ would be a good place to start. I have a query: There's a citizen who has recently retired at 60. His employer tells him that according to the laws (?) he will only be paid a third of his benefits as cash with the other two thirds being transferred to a provider of his choice who will the pay him an annuity. How true and/or legal is that? Life is like playing a violin solo in public and learning the instrument as one goes on.
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mkonomtupu		#47 Posted : Monday, February 16, 2015 10:15:34 AM
Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road		Rankaz13 wrote: http://www.rba.go.ke/ would be a good place to start. I have a query: There's a citizen who has recently retired at 60. His employer tells him that according to the laws (?) he will only be paid a third of his benefits as cash with the other two thirds being transferred to a provider of his choice who will the pay him an annuity. How true and/or legal is that? yeah that's how the pension works the amount is transferred to insurance company to purchase an annuity which is like a salary every month till you kick the bucket. A provident fund on the other hand pays you lumpsum which is what NSSF used to do before it converted. If you want to be paid lump sum you have to transfer to a provident fund before you retire
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Rankaz13		#48 Posted : Monday, February 16, 2015 10:20:45 AM
Rank: Elder Joined: 5/21/2013 Posts: 2,841 Location: Here		mkonomtupu wrote: Rankaz13 wrote: http://www.rba.go.ke/ would be a good place to start. I have a query: There's a citizen who has recently retired at 60. His employer tells him that according to the laws (?) he will only be paid a third of his benefits as cash with the other two thirds being transferred to a provider of his choice who will the pay him an annuity. How true and/or legal is that? yeah that's how the pension works the amount is transferred to insurance company to purchase an annuity which is like a salary every month till you kick the bucket. A provident fund on the other hand pays you lumpsum which is what NSSF used to do before it converted. If you want to be paid lump sum you have to transfer to a provident fund before you retire Aha, thank you mblo. Life is like playing a violin solo in public and learning the instrument as one goes on.
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Chaka		#49 Posted : Wednesday, May 09, 2018 4:04:16 PM
Rank: Elder Joined: 2/16/2007 Posts: 2,114		Can someone help me with the yearly performance regarding PPP's at Jubilee,ICEA Lion,Britam and Alexander Forbes(If they offer it) for the years 2016,2017?
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Mkimwa		#50 Posted : Wednesday, May 09, 2018 9:14:12 PM
Rank: Member Joined: 10/26/2008 Posts: 380		Chaka wrote: Can someone help me with the yearly performance regarding PPP's at Jubilee,ICEA Lion,Britam and Alexander Forbes(If they offer it) for the years 2016,2017? Jubilee returns: Year 2004 - 9.5% 2005 - 10.5% 2006 - 12.75% 2007 - 12% 2008 - 8% 2009 - 8.2% 2010 - 12.75% 2011 - 6.5% 2012 - 12.75% 2013 - 14% 2014 - 12% 2015 - 8.3% 2016 <not sure> 2017 - 12% Britam: 2012 - 16% 2013 - 16% 2014 - 16% 2015 - 8% 2016 - 8.5%
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