A safety net for your later years
What is Personal Pension Plan?
The Geminia Personal Pension Plan (PPP) is a product designed to offer you a platform to save up for retirement by making regular contributions during your active working life. The company invests the pension fund to generate an income that is added to your contribution to make it grow in readiness for when you retire.
Who can benefit?
This plan is ideal for:
- Self-employed individuals or business owners.
- Employees without occupational pension schemes or those seeking to boost their existing retirement savings.
- Contract, seasonal workers, and diaspora members looking to secure their future.
Features
- Age limit: Minimum entry age is 18, with a maximum of age 65.
- Self-determination of Contribution amounts: The individual chooses how much and how often to contribute.
- Interest: Guaranteed minimum return – 4%, meaning no matter how bad things get, your investment earns something (2024 NET interest declared 11.5%)
- Portability: The plan is not tied to an employer, making it fully portable if the individual changes jobs or locations.
Why Choose Geminia Personal Pension Plan?
Secure your future with a plan that offers flexibility, affordability, and guaranteed growth. Whether you’re employed, self-employed, or transitioning between jobs, the Geminia Personal Pension Plan is your reliable partner for a comfortable retirement.
Trustees and Administration
Benefits
Affordability: With an initial Kes 1,000 and a minimum monthly contribution of any amount, you can set up and operate a Geminia Personal Pension Plan.
Flexibility – You can make your pension contributions monthly, quarterly, half-yearly or yearly depending on the pattern of your income
Tax Benefit – The contributions you make to a pension plan are exempted from tax up to a limit of Kes 20,000 per month or Kes 240,000 per year.
Mortgage Security -The plan allows you to use up to 40% of your accumulated retirement savings as collateral for purchase of a residential house.
Access to information – You receive regular updates and statements to enable you to keep track of your savings and interest earned.
Growth of fund– Your contributions are invested, and the interest distributed to you to grow your fund. Guaranteed minimum return – 4%, meaning no matter how bad things get, your investment earns something (2024 NET interest declared 11.5%)
Access to your accumulated fund – You can access all your savings at any time or upon attaining the retirement age (60 years). Your accumulated retirement fund can also be accessed instantly if you emigrate or in the unfortunate event of your demise or permanent disability.
Calculate Your Premium
Monthly Contribution
Ksh. 5,000
Ksh. 100,000
Length of Investment
1 Year
40 Years
Start Date
Start Date
Projected Fund Value At Maturity
5 Years
10 Years
15 Years
20 Years
25 Years
30 Years
35 Years
40 Years
FAQs
Can I Access My Money Before Retirement?
Yes, you may opt for early retirement or transfers as per Retirement Benefits Authority (RBA) guidelines.
What Are The Available Plan Options?
- Provident plan: You will be paid the accumulated savings in one single lump sum upon retirement.
- Pension plan: You will be paid a third of the accumulated savings as a single lump sum amount and opt to use the remaining two thirds as follows: –
– Purchase an annuity, a contract for life that guarantees a Monthly income stream (pension) for the rest of your life.
– Income Drawdown: An investment fund from which retirement benefits payments are drawn, locked for 10 years.
What Happens If I Stop Contributing?
The pension plan continues and participates in the annual declared interest
What Other Benefits Does The Pension Plan Offer?
One can assign 40% of their fund towards purchase of a residential house provided the amount does not exceed 7M shillings.
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