What Is The Best Provident Fund In Kenya
Top Pension Funds in Kenya
- Absa Asset Management Limited.
- Britam Asset Management Kenya Limited.
- CIC Asset Management Limited.
- Co-op Trust Investment Services Limited.
- ICEA Lion Life Assurance.
- Madison Investment Managers Limited.
- Nabo Capital Limited.
- Old Mutual Investment Group Limited.
Which pension plan gives highest return in Kenya?
Some of Kenya’s best pension schemes include those for KCB, Jubilee Insurance, Britam, and Boresha Maisha. How do pension schemes work? Pension schemes work by a contribution of funds daily, monthly, or even once and upon maturity, you are paid a lump sum or on a monthly basis.
What is the provident fund rate in Kenya?
In Kenya, the retirement kitty deducts the contributors a rate of 12% from the pensionable wages. The deduction comprises two equals 6% from the employee and 6% from the employer. However, these rates are subject to the salary limits deployed by the government.
What is the difference between NSSF and provident fund in Kenya?
The Provident Fund benefits include an age benefit, a survivor’s benefit, an invalidity benefit, and an emigration benefit. The NSSF is exempt from the Stamp Duty Act, and the Income Tax Act, and contributions to the Pension Fund form part of tax-deductible expenses in the computation of taxes.