Pension

Nefertities

Elder Lister
@Okiya or anyone else who understands these things, you know by now that all I want is a way to access my pension without having to wait till I actually get to retirement age. Please explain what this means ...

"Kenyan pension contributors can now access up to 40% of their accrued benefits for residential house purchase provided the sum shall not exceed seven million shillings

https://wp.me/p8hE44-i87"
 

Okiya

Elder Lister
Hi Nef.
Since you haven't reched retirement age, you can access a portion of your employee pension contribution.
However, you cannot access employer contribution until you reach retirement age.

Hii ya housing sina details.
 

Masgwembe

Elder Lister
If you lose your employment, then you can access 100% of your pension and 50% of employer's contribution.

This was to be changed, don't know if they did.
 

Nefertities

Elder Lister
Quick one, can I create a loophole as follows?

I already withdrew the 150% when I was with insurance company 1 and then I opened and account with insurance company 2 while at another job. Can i consolidate the two accounts under insurance company 2 and withdraw again or should I just play it safe and withdraw the 150% from insurance company 2 then do consolidation after?
 

Nefertities

Elder Lister
Following

What if i change my employer, can i still access that pension?
This one I know because I did access from the first provider I had. The answer is 'yes'. You can access it, with penalties/tax, as explained by @Masgwembe or wait till you retire and get the full amount. When you have many employers over time with different providers, you're advised to consolidate all your pension accounts under one provider. Usually the one your current employer uses.
 
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bigDog

Elder Lister
Not interested in cash, nimechoka kulipa rent hii Nairobi.
You probably can access it. Tafuta a growing place uweke hiyo pesa. You can make more money if you invest hapo karibu na mpaka. Mtu akitaka phangi anavuka border. Ama vipi chief?
 
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