INTRODUCTION I welcome you all to the 2013 UNPS 2007 Members Education. I welcome you all to the 2013 UNPS 2007 Members Education. The Trustees are committed.

UNIVERSITY OF NAIROBI PENSION SCHEME 2007

MEMBERS EDUCATIONJUNE-JULY 2013

 UPDATES FROM THE SCHEME

INTRODUCTIONI welcome you all to the 2013 UNPS

2007 Members Education.

The Trustees are committed to educating members and every year they ensure they go around all the campuses for that purpose.

The following is the program for this year’s members’ education,

PROGRAM FOR THE MEMBERS’ EDUCATIONItem Time Facilitator

Introduction and Updates on the Pension Scheme

12.30 p.m. – 12.50 p.m.

Chairman - BoT

Personal Finance Management

12.50p.m. – 1:50 p.m.

Genesis(K)

Questions & Answers

1.50 p.m. – 2.00 p.m.

Chairman - BoT

Vote of Thanks 2.00 p.m. Representative of College/ Campus

BOARD OF TRUSTEES

Prof. P.M.F. Mbithi - Chairman, rep. Council Prof. G.A.O. Magoha- Rep. Council Prof. L.W. Irungu - Rep. Council Mr. K. Mbathi - Rep. Council Dr. W. Nyangena - Rep. Teaching StaffProf. P.G.O. Weke - Rep. Teaching staffMr. B.D. Njuguna - Rep. Non-Teaching StaffMr. M. A. Adala - Rep. Non-Teaching StaffMs. R.W. Ngondo - UoN Chief Legal Officer(Co-

opted)

ELECTION FOR TEACHING MEMBER TRUSTEES

The first term for Prof. P.G.O Weke expired on 6th May 2013.

Elections were conducted in the month of April 2013 and he emerged the winner. He has since been approved to serve for another three-year term.

 We thank the teaching staff who participated

in the recent elections and we encourage better participation in future.

SECRETARIAT

The members of the Secretariat are as follows: -

Mrs. T.K. Alyela : Scheme AdministratorMr. C. O. Otage : Scheme OfficerMr. J. K. Kariuki : Scheme AccountantMrs. F. Munyao : Office Admin/ Driver

SERVICE PROVIDERS

The Trustees are fully responsible for managing theScheme in accordance with the Trust Deed and Rules.

However, the Trustees are required under the law to engage services of various service providers while carrying out their duties.

The following are the current Scheme’s service providers: -

Fund Managers : Genesis Kenya & Pine Bridge Investments Custodians : Standard Chartered Bank. Actuary : Alexander Forbes Financial Services Lawyers : Kaplan & Stratton External Auditors : Kenya National Audit Office

MEMBERSHIPAll staff on permanent and pensionable

terms of employment by the University of Nairobi (Sponsor) are eligible to join the University of Nairobi Pension Scheme 2007.

Newly employed members should ensure they obtain membership registration forms either from the Scheme’s offices or from the offices of the Registrars of their respective colleges.

MEMBERS ON UNPAID LEAVE OF ABSENCE

Members who go on unpaid leave of absence are required to continue making contributions to the Scheme (i.e. 30% of their basic salary) to ensure their membership.

Those members of staff on unpaid leave who do not continue contributing stand the risk of losing the benefits of a member, as in the case of death in service benefits.

Additional Voluntary Contributions (AVCs)Members are encouraged to make AVCs in order to

enhance their benefits.There is also a tax benefit for pension contributions up to

KShs 20,000 per month.AVCs together with accrued interest are payable in full

whenever members exit from the Scheme. [i.e. AVCs are not subject to the requirement of “1/3rd lumpsum and 2/3rd”].

Members wishing to make AVCs should write a letter to the Finance Officer, stating the amount to be deducted, and giving a copy of the letter to the Scheme Administrator.

UNPS STRATEGIC PLAN

The Trustees have come up with the first Strategic Plan for the Scheme for the period 2012 – 2014. Members have been issued with copies.

This will enable the Trustees to assess the performance of the Scheme against the set up strategic objectives.

FUND VALUE 

The Trustees have continuously adhered to prudent investment strategies within the approved guidelines provided by the Retirement Benefits Authority (RBA).

As at 30th June 2013 the Scheme’s fund value stood at KShs. 9,681,366,927.

Scheme’s Investment Portfolio as at 31.05.13

Cash and Demand Deposits18%

T-Bills 4%

Kenya Government Securities

35%

Corporate Bond2%

Shares (quoted) Market Value

26%

Property 15%

Scheme’s fund growth for the period 2009 to June 2013

-

1,000,000,000.00

2,000,000,000.00

3,000,000,000.00

4,000,000,000.00

5,000,000,000.00

6,000,000,000.00

7,000,000,000.00

8,000,000,000.00

9,000,000,000.00

10,000,000,000.00

Fund Value

Scheme Fund Value 2009 - June 2013

BENEFITS PAYABLE BY THE SCHEME

Normal Retirement Benefits Early Retirement BenefitsRetirement on ill HealthDeath BenefitsWithdrawal Benefits

Trivial Pension

Members whose 2/3rds amounts to an annuity, which is KShs 6,105 or less have the option of being paid the entire 2/3rds.

RATE OF RETURN AND BENEFIT STATEMENTS

Rate of return declared by Trustees for the financial year ending 30th June 2012 was 20%. This was ONE OF THE BEST IN THE INDUSTRY.

The Trustees are expecting to declare another 20% rate of return for the financial year ending 30th June 2013.

NOMINATION OF BENEFICIARY FORMS Members are advised to complete the

nomination of beneficiaries’ form and update them regularly so that in the event of death it makes it easier for benefits to be processed and disbursed to their beneficiaries.

Nomination of beneficiary forms are available at the Scheme offices or at the College Registrar’s offices or can be downloaded from the Scheme’s website at [email protected]

PRE-RETIREMENT SEMINARThis year’s pre-retirement Seminar has

been scheduled to be held in August/ September 2013 for members who are remaining with Seven(7) years or less to retire and who have not undergone the training.

More information will be sent to members at the appropriate time.

SCHEME’S OFFICES & CONTACTSThe Scheme’s offices are located on 3rd

Floor of UNIPEN Apartments Block A. Members are free to visit the offices and make any relevant enquiries concerning their Scheme.

The following are the contacts for the Scheme:

Website : pensions.uonbi.ac.keAddress : P. O. Box 30197 – 00100 GPO, Nairobi

Telephone : 0738-555-439, 0718-024-995

E-mail : [email protected]

Thank You