KUSCCO MUTUAL ASSURANCE
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BENEFIT OPTIONS

Kuscco Mutual Individual Retirement Benefits Scheme is registered with both Retirement Benefits Authority (R.B.A) and Kenya Revenue Authority (K.R.A) by Kuscco Mutual Assurance Limited.

This plan helps you to plan for your life post retirement – be it starting a new venture, pursuing a hobby, travelling across the world or just enjoying time with family and friends. This plan helps you meet either planned or unplanned financial needs by providing flexible retirement options. It is affordable, transparent and easy to understand and also members will enjoy tax relief both at contribution and at withdrawal

WHO SHOULD JOIN?

  • Self-employed individuals

  • Salaried Individuals who do not have a pension provided by the employer

  • Individuals who have the means to save for retirement or need to make additional savings

  • Saccos

  • Organizations, Groups, Chamas, Investment Groups and many more

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UNIQUE FEATURES OF INDIVIDUAL PLAN

  • Secure Online Portal access for all members
  • Professionally managed
  • Transparent reporting and prudent investment
  • Enjoy flexibility in contributions
  • Your contributions and interest earned is guaranteed
  • Flexible benefit payout; pension, provident or income drawdown
  • Facilitation of transfer of benefits between employers at no charge
  • Members enjoy hands on experience and benefits from economies of scale in
    terms of expenses and investments
  • Members can start contributing immediately
  • Transfer from another scheme attracts no taxes

HOW TO REGISTER AS A MEMBER

  • Completed application form

  • Copy of Income tax PIN Number

  • Nomination of beneficiary form

  • Passport photo

  • Copy of ID or passport

HOW TO REGISTER AS A GROUP

  • The above documents for members

  • Deed of Adherence

  • Board Resolution

  • Copy of Income tax PIN Certificate

  • Copy of Company/Sacco incorporation certificate

TRANSFERRING INTO THE SCHEME

Member benefits are transferrable without being taxed. Kuscco Mutual
Assurance Limited will facilitate the transfer of benefits on your behalf

Advantages of transferring benefits

  • You get a personalized contract and service
  • You can pool funds together from other schemes for easy tracking
  • Detach yourself from your former employer’s scheme
  • Your pension fund will earn competitive interest rates annually
  • Enjoy flexibility in contributions
  • Your contributions and interest earned are guaranteed
  • You will be issued with a statement upon request
  • Secure Online Portal access

HOW TO MAKE CONTRIBUTIONS

  • Single up-front contribution.
  • Regular contributions
    (monthly, quarterly, half yearly or annually)
  • Ad hoc contributions
  • Transfer from another registered scheme.

NOTE

The minimum regular contributions is Ksh. 1,000 per month or Ksh. 12,000 per
annum. Tax deductible up to a maximum of Kshs. 20,000 per month and Kshs. 240,000 per annum.

HOW TO MAKE PAYMENTS

  1. M-PESA
    PAY BILL NUMBER:

    4060607

  2. ACCOUNT NUMBER: “NAME – ID NO.”
    SCHEME BANK ACCOUNT

    THE CO-OPERATIVE BANK OF KENYA

    ACCOUNT NUMBER: 01143164069600

    REFERENCE: “FULL NAME – ID NO.”

KUSCCO MUTUAL ASSURANCE