Kenya does not offer unemployment benefits. There are instances in which one gets their pensions when termination of employment happens. According to Section 6 (1) (f) of the Pensions Act, grants for payment of pension, gratuity, or other allowance, in…
What happens to an employee’s pension scheme when an employer becomes insolvent or ceases to exist? They protect occupational pension schemes in case of such instances. Status of Pension Scheme Security They protect pension scheme benefits from forfeiture and put…
Retirement is a time in which you would expect a decline in busy day-to-day activities and an easier daily routine funded by your hard-earned savings and retirement plan. This is a time to reap the reward for your hard work.…
Crises that occur out of the blue may give you a reason to borrow from your retirement plan to provide initial relief to your predicament. However, it is wise to know the risks that come with a retirement plan loan…
Nearing your retirement age is an important time to contemplate the decisions to be made in order to maintain your preferred lifestyle post-retirement. All the elements to be considered during retirement planning raises a lot of questions regarding the subject.…
Comprehensive estate planning during your retirement requires you to take account of your financial needs, ensure that they are met, and provide additional safeguards. Some ways to develop this type of plan are discussed below. Purchase Long-Term Care Insurance Long…
Estate planning and retirement planning are closely related. Estate planning is when a plan is created to dictate the process of the transference of the creator’s estate to their beneficiaries posthumously. A retirement plan centers on setting retirement income goals…
Divorce and retirement are not far-apart conversations in today’s world. Divorce can be an emotionally tumultuous time due to the effort demanded going into the division of financial and physical assets. Key assets that are often targeted during these proceedings…
“Prepare your mind, not just your finances.” Financial planning is but one element of retirement. Today we focus on the psychological element. In the past, most retirement preparation has leaned towards financial planning, mainly because most of the workshops are…
Systech Limited named the best pension management system providers in 2022, during the Top 100 Digital Tech Companies Awards 2022. Catch on: Systech Limited Becomes a Member of AfICTA Much obliged to our clients who believed in us and continue…
According to a report by the International Labor Organization (ILO), over 2 billion of the global employed population, 15 years and older, is in the informal sector. In Africa alone, over 85% of the employed population is informal. Oftentimes, when…
The first step to starting up a pension fund for your employees should be learning about the costs of setting up a workplace pension. Nothing ultimately gives you the drive to push forward with something like being sure you can afford…