Kuza Umbrella Retirement Benefits Fund

The Kuza Umbrella Retirement Benefits Fund is ideal for employers who want to deliver their retirement promises to their staff by adhering to an already existing scheme. When you opt into the Kuza Umbrella Retirement Benefits Fund, you will leverage on economies of scale to achieve greater milestones better than setting up your own employer-sponsored stand-alone scheme. It also helps you to contract your staff out of NSSF Tier 2 contributions for safety and better returns.

The following are the clients that should consider the Kuza Umbrella Retirement Benefits Fund:

• Businesses seeking to initiate a Retirement Plan for their employees.
• Businesses looking to transfer their company's retirement arrangement from the current provider.
• Those in search of a superior fund that provides competitive returns.
• Businesses aiming for a cost-effective retirement arrangement that allows them to focus on their core operations.
• Employers who want to offer a retirement arrangement to their employees without imposing financial liabilities on those appointed to oversee it.
• Employers who wish to diversify their employees' NSSF savings by opting out of Tier 2 contributions to an approved reference scheme/ fund.
• Employers who want to avoid the burden of setting up their retirement fund.
• Employers who do not wish to send NSSF Tier II contributions to NSSF.
• Employers who wish to preserve certain unique features which will be customized in their particular rules.

The following are the Benefits of the Kuza Umbrella Retirement Benefits Fund:

• Save on Tax: Saving into a registered pension plan enables you to claim tax exemption from your PAYE tax obligations up to Kes 20,000 per month. This boosts your earnings bottom-line and preserves the purchasing power of your disposable income.
• Benefit from economies of scale: As a participating employer, you will get the opportunity of preserving your unique identity by defining your salient features in the special rules. Costs are distributed across participating employers to achieve cost efficiency and maximized returns.
• Grow your savings in a safe environment: In the Kuza Umbrella Retirement Benefits Fund, you will never worry about returns or uncalculated risk exposures. The Fund is managed by Kuza Asset Management to comply with regulatory provisions as well as the accorded mandate in the prudent investment policy. Your benefits are protected and remain non-assignable.

The Kuza Umbrella Retirement Benefits Fund focuses on the following objectives:

• A cost-efficient platform for employers to manage their retirement promise to staff.
• Competitive returns that enable value preservation for members.
• Smooth coordination and management of the retirement promise in a manner that does not overburden the employer.
• A transparent annual return distribution framework that demonstrates fiducial responsibility.
• Allow members to pay additional voluntary contributions to augment their retirement savings.