Maseno University Retirement Benefits Scheme commenced on 1st September 1990, with the sole purpose of safeguarding retirement benefits of Maseno University Staff. The Scheme was established through an irrevocable Trust Deed on 26th August 1996 as a contributory defined benefits scheme.
The Scheme was converted to a defined contribution scheme with a 50% underpin as from 1st July 2004. In May 2015 the Scheme was converted to a full defined contribution Scheme. The members currently contribute 10% and the University contributes 20% of the basic salary.
The Scheme is registered and approved under the Retirement Benefits Act 1997 and complies with all the provisions of the Act. The Scheme is also approved by the Kenya Revenue Authority as an exempt plan under the Income Tax Act (Cap 470).
"Strive to provide excellent retirement benefits to members"
"To provide outstanding reputable benefits to members through maximization of returns, prudent management of risks and enhanced member communication."
We put our members first in everything we do, ensuring their retirement security remains our top priority.
We take responsibility for our actions and decisions, maintaining transparency in all our operations.
We maintain the highest standards of professional conduct and expertise in managing our members' benefits.
We ensure equitable treatment of all members and stakeholders in our decision-making processes.
We uphold honest and ethical practices in all our dealings, building trust with our members.
We collaborate effectively to achieve our goals and serve our members better.
Members
Assets Under Management
Years of Service
Retirement Benefits Act Compliance
A modern retirement savings plan where benefits are based on contributions and investment returns.
Professional management of funds through a trust structure ensuring security and growth of investments.
Comprehensive medical coverage for members after retirement, ensuring healthcare security.
Additional retirement benefits through NSSF Tier II contributions for enhanced security.
