Who we are
The TelPosta Pension Scheme was constituted vide a Trust Deed dated 1st July 1997 by then Kenya Posts and Telecommunications Corporation.
Its main purpose is the provision and custody of Pension and other retirement benefits of the employees and former employees of Kenya Posts and Telecommunications Corporation (now defunct) and Telkom (K) Limited.A certificate of Incorporation was issued by the Minister of Lands and Settlement dated 16th September 1999. This had the importance of making the Scheme a totally separate legal entity which can sue and be sued as a body corporate.
The Deeds were subsequently amended vide Deeds dated 3rd December 2004, 20th December 2007 and 21st January 2009.
The Scheme/Fund was closed to new entrants and to future accrual of benefits with effect from 30th November 2007. Under the Amended Scheme/Fund, adopted with effect from 1st December 2007 the Scheme/Fund is a closed Scheme/Fund for the purposes of disbursing the pension payments in respect of pensioners in receipt of pension and for deferred pensioners entitled to a deferred pension as at 1st December 2007.
The membership of the Scheme/Fund is comprised of deferred members and pensioners. Deferred members are ex employees who left the service of the employer on or before 30th November 2007 while pensioners are retired employees or dependants of former employees who died while in the service or in retirement.The main objective of the retirement benefits scheme is to provide reasonable benefits for the members.
Members’ funds are invested in the best market investment opportunities so as to provide enhanced benefits to them on an ongoing basis.
The Scheme/Fund provides the following benefits to its members:
- Lump sum payment upon retirement
- Accumulated personal contribution upon departure
- Pension to retirees
- Pension to widows/widowers and children upon a member’s death while in service or retirement
Nature of the Closed Scheme/Fund
The liability of the Scheme are the liabilities in respect of pension in payment and deferred pensioners with entitlement to a deferred pension.
- Members: Pensioners, deferred members Unclaimed/Unplaced Members
- Dependants/Potential Beneficiaries: Next of kin, children, widows, widowers, orphans
- Sponsor: Telkom Kenya Limited
- Service Providers: Auditors, Actuary, Custodian, Fund Managers, Lawyers
- Regulatory Institutions: Retirement Benefits Authority, Kenya Revenue Authority and GOK
- Guaranteed Pension
- Sustainability of the Scheme/Fund
- Courteous Service