Pension Scheme

NGEC Staff Pension Scheme

NGECSPS - Securing Your Future

National Gender and Equality Commission Staff Pension Scheme

NGECSPS - Established March 1, 2020

Est. March 2020 108 Members KShs. 260M Assets RBA Registered

About the Scheme

The National Gender and Equality Commission Staff Pension Scheme (NGECSPS) was established on 1st March, 2020 through a resolution of the Commission NGEC (as the SPONSOR). The Scheme is governed through registered 2020 Trust Deed and Rules and subsequent revisions. The scheme is a defined contribution pension scheme under irrevocable trust designed to provide retirement and other benefits for NGEC Employees. The scheme is primarily registered and regulated by the Retirement Benefit Authority, and is also approved by the Kenya Revenue Authority as a registered Scheme under the Income Tax (Cap 470).

Our Vision

A provider of a retirement plan to our members, grounded on superior investment performance and exceptional Customer planning service.

Our Mission

To provide a secure and sustainable pension scheme that meets the retirement needs of our members, while delivering excellent value through innovative products and services.

Core Values

These values guide our operations and service delivery:

Accountability

We are accountable to our members, stakeholders, and regulators and operate with transparency and integrity.

Member Focused

We are dedicated to meeting the needs of our members and providing them with the highest level of customer service.

Equity

We shall practice fairness, access, opportunity and advancement while delivering our services and eliminate barriers that may prevent the full participation of our members and beneficiaries.

Board of Trustees

The Scheme is run by a Board of Trustees constituting of seven (7) Trustees, three (3) of which are Sponsor Nominated Trustees and four (4) Member elected trustees. The Trustees serve for term of five (5) years to a maximum of two terms.

Paul Kuria, OGW

CHRP Monicah Oyugi

Andrew Mwithiga

Josephine Kagucia

Jillo Bidu Qurra

Halima Boya

Ikunga Domenic

Scheme Service Providers

The scheme is supported through key service providers who are integral in running of the scheme:

Scheme Administrator

Zamara Actuaries, Administrators & Consultants Ltd.

Fund Manager

GenAfrica Assets Managers

Custodian

Cooperative Bank of Kenya Limited

Auditors

Kingangi Kamau and Company

Additional Benefits

Additional Voluntary Contributions (AVC)

Additional Voluntary Contributions (AVCs) are extra payments that pension scheme members choose to make beyond their mandatory or employer-matched contributions. This is an opportunity to enjoy state tax exemptions offered to pensioners.

These contributions are typically flexible in amount and frequency, allowing members to increase their retirement savings according to their financial capacity and long-term goals. The compounded effect of AVC has a remarkable positive effect on the overall member pension portfolio. All members are encouraged to enjoy AVC service.

Post Retirement Medical Fund (PRMF)

This is a benefit that provides members with the opportunity, while in active employment, to save towards medical costs incurred after retirement, a time when members are unlikely to enjoy any medical cover benefits.

The PRMF has been set up within the existing Pension Fund and members are encouraged to take up the service.

More Information

The scheme has member's handbook as quick reference and a raft of governance policies and an established office managed by the Trust Secretary. On routine basis, the scheme scheme offers members education on key opportunities.

You are encouraged to contact the us through any of the Trustees.