Presentation is loading. Please wait.

Presentation is loading. Please wait.

INTRODUCTION I welcome you all to the 2013 UNPS 2007 Members Education. I welcome you all to the 2013 UNPS 2007 Members Education. The Trustees are committed.

Similar presentations


Presentation on theme: "INTRODUCTION I welcome you all to the 2013 UNPS 2007 Members Education. I welcome you all to the 2013 UNPS 2007 Members Education. The Trustees are committed."— Presentation transcript:

1

2 INTRODUCTION I welcome you all to the 2013 UNPS 2007 Members Education. I welcome you all to the 2013 UNPS 2007 Members Education. The Trustees are committed to educating members and every year they ensure they go around all the campuses for that purpose. The Trustees are committed to educating members and every year they ensure they go around all the campuses for that purpose. The following is the program for this years members education, The following is the program for this years members education,

3 PROGRAM FOR THE MEMBERS EDUCATION ItemTimeFacilitator Introduction and Updates on the Pension Scheme p.m. – p.m.Chairman - BoT Personal Finance Management 12.50p.m. – 1:50 p.m.Genesis(K) Questions & Answers1.50 p.m. – 2.00 p.m.Chairman - BoT Vote of Thanks2.00 p.m.Representative of College/ Campus

4 BOARD OF TRUSTEES Prof. P.M.F. Mbithi- Chairman, rep. Council Prof. P.M.F. Mbithi- Chairman, rep. Council Prof. G.A.O. Magoha- Rep. Council Prof. G.A.O. Magoha- Rep. Council Prof. L.W. Irungu- Rep. Council Prof. L.W. Irungu- Rep. Council Mr. K. Mbathi- Rep. Council Mr. K. Mbathi- Rep. Council Dr. W. Nyangena- Rep. Teaching Staff Dr. W. Nyangena- Rep. Teaching Staff Prof. P.G.O. Weke- Rep. Teaching staff Prof. P.G.O. Weke- Rep. Teaching staff Mr. B.D. Njuguna - Rep. Non-Teaching Staff Mr. B.D. Njuguna - Rep. Non-Teaching Staff Mr. M. A. Adala- Rep. Non-Teaching Staff Mr. M. A. Adala- Rep. Non-Teaching Staff Ms. R.W. Ngondo- UoN Chief Legal Officer(Co-opted) Ms. R.W. Ngondo- UoN Chief Legal Officer(Co-opted)

5 ELECTION FOR TEACHING MEMBER TRUSTEES The first term for Prof. P.G.O Weke expired on 6 th May The first term for Prof. P.G.O Weke expired on 6 th May Elections were conducted in the month of April 2013 and he emerged the winner. He has since been approved to serve for another three-year term. Elections were conducted in the month of April 2013 and he emerged the winner. He has since been approved to serve for another three-year term. We thank the teaching staff who participated in the recent elections and we encourage better participation in future. We thank the teaching staff who participated in the recent elections and we encourage better participation in future.

6 SECRETARIAT SECRETARIAT The members of the Secretariat are as follows: - Mrs. T.K. Alyela : Scheme Administrator Mrs. T.K. Alyela : Scheme Administrator Mr. C. O. Otage : Scheme Officer Mr. C. O. Otage : Scheme Officer Mr. J. K. Kariuki : Scheme Accountant Mr. J. K. Kariuki : Scheme Accountant Mrs. F. Munyao : Office Admin/ Driver Mrs. F. Munyao : Office Admin/ Driver

7 SERVICE PROVIDERS The Trustees are fully responsible for managing the Scheme in accordance with the Trust Deed and Rules. However, the Trustees are required under the law to engage services of various service providers while carrying out their duties. The following are the current Schemes service providers: - Fund Managers: Genesis Kenya & Pine Bridge Investments Fund Managers: Genesis Kenya & Pine Bridge Investments Custodians: Standard Chartered Bank. Custodians: Standard Chartered Bank. Actuary: Alexander Forbes Financial Services Actuary: Alexander Forbes Financial Services Lawyers: Kaplan & Stratton Lawyers: Kaplan & Stratton External Auditors: Kenya National Audit Office External Auditors: Kenya National Audit Office

8 MEMBERSHIP All staff on permanent and pensionable terms of employment by the University of Nairobi (Sponsor) are eligible to join the University of Nairobi Pension Scheme All staff on permanent and pensionable terms of employment by the University of Nairobi (Sponsor) are eligible to join the University of Nairobi Pension Scheme Newly employed members should ensure they obtain membership registration forms either from the Schemes offices or from the offices of the Registrars of their respective colleges. Newly employed members should ensure they obtain membership registration forms either from the Schemes offices or from the offices of the Registrars of their respective colleges.

9 MEMBERS ON UNPAID LEAVE OF ABSENCE Members who go on unpaid leave of absence are required to continue making contributions to the Scheme (i.e. 30% of their basic salary) to ensure their membership. Those members of staff on unpaid leave who do not continue contributing stand the risk of losing the benefits of a member, as in the case of death in service benefits.

10 Additional Voluntary Contributions (AVCs) Members are encouraged to make AVCs in order to enhance their benefits. Members are encouraged to make AVCs in order to enhance their benefits. There is also a tax benefit for pension contributions up to KShs 20,000 per month. There is also a tax benefit for pension contributions up to KShs 20,000 per month. AVCs together with accrued interest are payable in full whenever members exit from the Scheme. [i.e. AVCs are not subject to the requirement of 1/3 rd lumpsum and 2/3 rd ]. AVCs together with accrued interest are payable in full whenever members exit from the Scheme. [i.e. AVCs are not subject to the requirement of 1/3 rd lumpsum and 2/3 rd ]. Members wishing to make AVCs should write a letter to the Finance Officer, stating the amount to be deducted, and giving a copy of the letter to the Scheme Administrator. Members wishing to make AVCs should write a letter to the Finance Officer, stating the amount to be deducted, and giving a copy of the letter to the Scheme Administrator.

11 UNPS STRATEGIC PLAN The Trustees have come up with the first Strategic Plan for the Scheme for the period 2012 – Members have been issued with copies. The Trustees have come up with the first Strategic Plan for the Scheme for the period 2012 – Members have been issued with copies. This will enable the Trustees to assess the performance of the Scheme against the set up strategic objectives. This will enable the Trustees to assess the performance of the Scheme against the set up strategic objectives.

12 FUND VALUE The Trustees have continuously adhered to prudent investment strategies within the approved guidelines provided by the Retirement Benefits Authority (RBA). The Trustees have continuously adhered to prudent investment strategies within the approved guidelines provided by the Retirement Benefits Authority (RBA). As at 30 th June 2013 the Schemes fund value stood at KShs. 9,681,366,927. As at 30 th June 2013 the Schemes fund value stood at KShs. 9,681,366,927.

13 Schemes Investment Portfolio as at

14 Schemes fund growth for the period 2009 to June 2013

15 BENEFITS PAYABLE BY THE SCHEME Normal Retirement Benefits Normal Retirement Benefits Early Retirement Benefits Early Retirement Benefits Retirement on ill Health Retirement on ill Health Death Benefits Death Benefits Withdrawal Benefits Withdrawal Benefits

16 Trivial Pension Members whose 2/3rds amounts to an annuity, which is KShs 6,105 or less have the option of being paid the entire 2/3rds. Members whose 2/3rds amounts to an annuity, which is KShs 6,105 or less have the option of being paid the entire 2/3rds.

17 RATE OF RETURN AND BENEFIT STATEMENTS Rate of return declared by Trustees for the financial year ending 30 th June 2012 was 20%. This was ONE OF THE BEST IN THE INDUSTRY. Rate of return declared by Trustees for the financial year ending 30 th June 2012 was 20%. This was ONE OF THE BEST IN THE INDUSTRY. The Trustees are expecting to declare another 20% rate of return for the financial year ending 30 th June The Trustees are expecting to declare another 20% rate of return for the financial year ending 30 th June 2013.

18 NOMINATION OF BENEFICIARY FORMS Members are advised to complete the nomination of beneficiaries form and update them regularly so that in the event of death it makes it easier for benefits to be processed and disbursed to their beneficiaries. Members are advised to complete the nomination of beneficiaries form and update them regularly so that in the event of death it makes it easier for benefits to be processed and disbursed to their beneficiaries. Nomination of beneficiary forms are available at the Scheme offices or at the College Registrars offices or can be downloaded from the Schemes website at Nomination of beneficiary forms are available at the Scheme offices or at the College Registrars offices or can be downloaded from the Schemes website at

19 PRE-RETIREMENT SEMINAR This years pre-retirement Seminar has been scheduled to be held in August/ September 2013 for members who are remaining with Seven(7) years or less to retire and who have not undergone the training. This years pre-retirement Seminar has been scheduled to be held in August/ September 2013 for members who are remaining with Seven(7) years or less to retire and who have not undergone the training. More information will be sent to members at the appropriate time. More information will be sent to members at the appropriate time.

20 SCHEMES OFFICES & CONTACTS The Schemes offices are located on 3 rd Floor of UNIPEN Apartments Block A. Members are free to visit the offices and make any relevant enquiries concerning their Scheme. The Schemes offices are located on 3 rd Floor of UNIPEN Apartments Block A. Members are free to visit the offices and make any relevant enquiries concerning their Scheme. The following are the contacts for the Scheme: The following are the contacts for the Scheme: Website: pensions.uonbi.ac.ke Address: P. O. Box – GPO, Nairobi Telephone : ,

21 Thank You


Download ppt "INTRODUCTION I welcome you all to the 2013 UNPS 2007 Members Education. I welcome you all to the 2013 UNPS 2007 Members Education. The Trustees are committed."

Similar presentations


Ads by Google