Introduction
The SEKU Pension Scheme (the Scheme) was established on 1st January 2010. It operates as a defined contribution (DC) scheme, providing retirement benefits to the staff of SEKU at a specified age. Additionally, it provides relief for the dependents of deceased members as defined in the Scheme’s regulations.
The Scheme pays benefits on leaving service, retirement, and in the event of untimely demise of a member. The Trustees also manage a Trust Fund for beneficiaries of deceased members who are under the age of eighteen years, or as otherwise advised.
The Scheme was established under irrevocable trusts, with a separate Trust Deed and Rules (TD&R). It is registered and operates in accordance with the Retirement Benefits Act, 1997, Retirement Benefits Regulations, 2000, and subsequent legislation. The Scheme is approved by the Kenya Revenue Authority (KRA) as a tax-exempt retirement scheme under the Income Tax Act (Cap. 470).
TRUSTEES