FAQs

  1. Can I access my benefits if I resign or I am terminated from employment?

    If you have served more than one year as a member of a pension fund, you can access your employee contributions to the Fund plus investment income in full.
    If your membership is more than three years, you can access 50% of the Employer’s contribution plus investment income. The balance of the Employer’s contribution is deferred and continues to earn income until you attain the retirement age specified in the rules of the Fund.

  2. Can I transfer my benefits to another Fund upon resignation?

    You can choose to transfer your benefits to the Fund of your new Employer at any time.

  3. What type of Fund design does the Kenya Power Pension Fund operate?

    Currently the Fund operates a Defined Contribution Fund (DC) which commenced on July 2006.
    Previously, the Fund was operating a Defined Benefit Fund (DB) which was closed in June 2006.

  4. So who are the members of the DC Fund?

    All full-time, permanent and pensionable employees who have also completed their probationary period are members of the Fund.

  5. At what age can I apply for early retirement?

    This means a date earlier than the Normal Retirement Date but not earlier than your fiftieth (50th) birthday. Furthermore, the member is entitled to a lump sum payment and a monthly pension for the rest of his/her life.

  6. Can I pay more for higher benefits?

    Yes. These payments are known as Additional Voluntary Contributions (AVCs) and are a tax efficient way of providing extra retirement income. As a member of the Fund, you can start paying AVCs at any time of your choosing.

  7. From what source will I receive interest on my account?

    The Fund’s assets are invested by the Trustees with the objective of producing a long-term return which maximizes growth while ensuring income generation and sufficient capital to meet benefit outgoings.

  8. What rate of interest will my Account earn?

    • Interest will be provided on your Member account at rates determined by the Trustees.
    • The Actuary will advise the Trustees on what Interest Rate should be applied, based on the investment returns (less expenses) achieved by the Fund.
    • Declared Interest Rate may not necessarily be equal to the Fund’s investment return.
    • In good years, some of the investment income may be held in reserve to be available at times when the investment return is not good hence providing a reasonable level of investment income.
  9. Who manages the Kenya Power Pension Fund?

    The responsibility for managing the Fund rests with the Trustees. The Fund Trustees have a legal responsibility to protect the interests of members and pensioners at all times and to ensure that the Fund is operated in accordance with the Trust Deed and Rules.

    In carrying out their duties, the Trustees take advice from professional advisors, including external investment managers who are responsible for the investment of the Fund assets and a separate custodian to hold custody of the Fund’s funds.

  10. Can I change my nomination of beneficiary/beneficiaries?

    At any time while you are an Employed Member, you may change or cancel your nomination of beneficiary or beneficiaries to receive lump sum death benefits. It is important to keep your nominations up-to-date.

  11. What are the benefits upon attaining the normal retirement age?

    A member, who retires on attainment of 60 years of age, is entitled to a lump sum payment and a monthly pension for the rest of his/her life.

  12. What benefits are available upon the death of a member?

    If a member dies while in service, his/her beneficiaries (spouse and children) are entitled to a pension and a lump sum payment. The spouse’s pension is paid for the rest of his/her life while children earn their pension up to the age of 18 years or 23 years if still in school.

Core Values

Integrity
Accountability
Courtesy
Efficiency
Stewardship

Latest News

fire awards 2016

The Fund participated for the third time in the Investment Awards 2016 organized by Think Business Ltd.

During the Award Presentation Ceremony held on Friday 28th October 2016 at the Windsor Golf & Country Club, the DC Fund bagged 2 Trophies (1st runners up in the Not for Profit category and 2nd runners up in the IFRS category) and the DB Fund b

The Fund participated for the fifth time in the Champion of Governance (COG) Awards 2016. The Fund was recognised during the award ceremony held on 4th November 2016 at the Intercontinental Hotel in the following categories;