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Personal Pension Scheme
Grow sizeably on your accrual income.
What is Enwealth Personal Pension
This is a long term investment product that allows individuals to contribute to build up their retirement fund.It is the one of the most secure form of savings.
A pension plan is a tax privileged retirement plan that allows individuals make contributions into a pool of funds set aside for future benefit.
Struture of the Fund.
In line with RBA regulations, Enwealth Personal Pension has appointed service providers to provide safe custody of funds, investment of funds and corporate trustee services.
The appointed service providers are as following:
Corporate Trustee
Fund Managers
Scheme Custodian
Administrator
How it works
Members Join by completing an application form and attaching a copy of their national identity cards plus passport size photographs
Enwealth Financial Services Limited shall issue a deed of adherence and a membership certificate to each member of the scheme.
Contributions from members are remitted to the scheme’s custodian.
Enwealth Financial Services Ltd shall be issuing each member annual statements.
Members receive periodic industry updates from Enwealth Financial Services Ltd.
Registration & Governance of the Fund
The scheme is established as a trust and as a seperate legal entity by the founding company Enwealth Financial Services Limited.
The scheme is registered and regulated by the Retirement Benefits Authority and Kenya Revenue Authority.
The scheme assets are held by the appointed custodian and separated from the assets of the founding company enhancing the security of your retirement nest egg.
The scheme assets are held by the appointed custodian in a nominees account and separated from the assets of the founding company.
The scheme has an appointed Corporate Trustee who is independent from Enwealth Financial Services Ltd and watches over the operations of the scheme on behalf of the members.
Benefits of Enwealth Personal Pension
Enjoy Income Tax relief on employee contributions
You can transfer in your benefits from other schemes at no cost.
Enjoy un-matching expertise on investments management to optimise income on your savings.
Enjoy periodic updates on your savings and changes in regulations.
Obtain expert advice on your retirement planning.
Employers with pension schemes are perceived as responsible and benefit from a more positive brand image within the community.
Frequently Asked Questions
How do I join?
Complete a one pager application form and attach a copy of your national identity card plus passport size photographs. You may email signed copies and identification documents to clientservice@enwealth.co.ke
A deed of adherence and membership certificate shall then be issued to you by Enwealth Team.
How do I pay contributions?
You can pay your contributions by Mpesa (Paybill number 771077, use your identity number as account number), Cheque in favor of Enwealth Personal Pension Scheme, Salary-stop order or bankers standing order. You can either pay monthly, quarterly, semi-annually or annualy.
Contribution remittances history can be viewed through Enwealth online portal or Enwealth Mobile Application.
How safe are my retirement benefits?
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Scheme is registered and regulated by the Retirement Benefits Authority
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It is established as a trust and is a separate legal entity from the founding companyÂ
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The scheme assets are held by the appointed custodian in a nominees account and separated from the assets of the founding companyÂ
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Corporate Trustee who is independent and watches over the operations of the scheme on behalf of members
Where are the funds invested?
Scheme funds are invested in accordance to the requirements of the Retirement Benefits Act and the scheme investment policy statement with the objective of achieving long term returns within acceptable risk levels.
What are the benefits of joining Enwealth Personal Pension Scheme?
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Income Tax relief on contributions upto Kshs 20,000 per month.
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Exemption of payment of capital gains tax on investment returns.
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Part of your pension benefits may be paid as tax-free cash lumpsum.
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You can transfer-in your benefits from other schemes at no cost.
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Excellent customer service from Enwealth team.
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Last expense and Group Life benefits as value add.Â
How do I transfer benefits from my former employer to Enwealth Personal Pension Scheme?
You are required to officially write to your former Employer’s pension scheme Trustees authorizing the transfer. Our team would be glad to email you sample transfer letter. Kindly contact us on customerservice@enwealth.co.ke
How do I make contributions to my account?
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Bank Transfer
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>> Stanbic Bank
Account Name CNSL A/C Enwealth Personal Pension Scheme
Bank Name Stanbic Bank Ltd
Branch Chiromo
Account Number 0100001920728
Customer No. 1072976 -
>> Bank of Africa
Account Name Enwealth Personal Pension Scheme
Bank Name Bank of Africa (K) Ltd
Branch Bank of Africa (Head Office Branch)
Swift Code AFRIKENX
Account Number 00001590006 -
M-Pesa Patbill Number (771077)
Go to your Safaricom Menu>>Lipa na Mpesa Menu >>Indicate
the Paybill number (771077) >>Account Number (Indicate your
National ID Number)>>Enter Amount Press >>Ok.
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