The Jubilee Insurance Personal Pension Plan is a savings plan tailor-made to allow individuals secure their retirement. By making regular contributions into an interest bearing fund, you build your retirement fund while taking advantage of the tax-deductible benefits on your contributions and your investment income.
FAQs How do I join the PPP?Fill the one page application form, attach a copy of your identification document (ID or valid passport) and pay your first contribution to set up your account. You may email us on firstname.lastname@example.org copies of the completed form and identification document.
How do I pay the contribution?Based on your circumstances and convenience, you may pay your contributions by cheque, banker’s standing order, salary-stop order, Mpesa (Business No. 328103, use your ID/passport no. as your account number) or pay cash to Jubilee offices. You may contribute on monthly, quarterly, half-yearly or annually.
How much is tax-deductible?Currently the Kenya Revenue Authority allows a tax exemption of Kshs.240,000 per annum (Kshs.20,000 per month) on the contributions. E.g. an individual earning Kshs.50,000 and making a monthly contribution of Kshs.5,000/= will be taxed on Kshs.45,000/=.
Can I increase or decrease my contributions?
Yes, our Plans allow you to increase or decrease your contributions as your situation permit.
How are my funds invested?We take a prudent approach to invest your retirement funds. Security and sustainable long-term returns are key investment objectives. We aim to maximize returns on your contributions while providing you a guarantee on your accumulated fund.
How can I monitor my fund?We provide an annual statement that reflects your total fund and interest earned.
Should you wish to receive a statement at any time, kindly contact us on email@example.com or 020 328 1167/ 1000 and we will provide it to you within 24 hours.
At what age can I retire?The normal retirement age in Kenya is 60 years. However, you may retire as early as age 55 or even later than age 60 depending on your circumstances.
How much will I get at retirement? The accumulated fund is available to you at retirement to purchase an annuity. The fund may also be taken as a lump sum subject to Income Tax deductions and the Retirement Benefits Authority guidelines.
What if I die before retirement?The total fund accumulated at the date of your death will be payable to your dependents.
What will happen if I am disabled?In case of early retirement due to ill health or disablement the accumulated fund at the date of early retirement is payable.
Can I withdraw my fund from Jubilee Insurance before retirement?You may terminate the contract and withdraw the fund at any time. However, the fund will be subject to any taxes payable and locking-in of the benefit arising from the employer’s contributions.
Can I transfer my accumulated fund to Jubilee Insurance Personal Pension Plan?Yes, by providing your former Employer’s scheme trustees with written transfer instructions. See sample letter attached. Our Pensions Officer will be glad to be of assistance, kindly contact us on firstname.lastname@example.org or 020 328 1167/ 1000
Download Application Form