Hi guys, Sorry the pop up for my top 3 Pension Fund Recommendations did not show on the screen. For Pension Funds, you can consider: 1. Kenindia 2. Prudential 3. GA Life For Annuities: 1. ICEA Lion You can contact Lerisque Africa to assist you with account opening for any of these accounts. Here is their email: hi@lerisqueafrica.com
1.After your pension matures & you start receiving your monthly payments...., Does it have continuity Incase you die?will your next of keen will continue receiving payments or it ends like that.
Nakupenda Sana wewe Mdada SusaniYou have completely changed my Financial Mind set. Mungu wa Yakobo na Akubariki Sana! Tuna kupata vema Sana Afrika ya Mashariki na Dunia nzima.
I agree with Coach Susan on Kenindia for pension fund because of their integrity. Britam is a powerhouse in investments, insurance, etc, but I have my reservations on it based on how they handled my insurance policy. It was quite insensitive of Britam.Soft skills and customer care, very critical.
I feel you @rosesiambe4465 and its quite regrettable for anyone to lose their hard earned shilling. However, the oversight isn't really with Britam as such but with the agent who probably did not give you all and the right information. My experience with Britam is quite fulfilling.
Thank you Coach for your insights. My proper financial literacy journey began the day I first listened to you and so far sooooo good. Wish I got this info when I was younger.
Coach I would really wish you address the recent opinion of one of the politician about people losing their cash on bills and bonds. Kindly address this uncertainty.
Good explanations on financial concepts around pension ecosystems ,this needs to be directed to all instituitions to make the citizens get on board ..thx susan.
Waah I thank God I delayed to open this account until today, because I was to do it wrongly.. mpaka walikuwa wametumia form online nijaze.thanks so much coach.
Question coach, you say pension will be paid to me till I expire what if I expire a year after I retire will that be the end of my pension or my next of kin can continue to receive?
NSSF has voluntary contributions but updating their accounts, and governance of the organization is a challenge. The performance of the fund vis a viz other private funds is also not very good, infact the major issue from my opinion
Invest at a rate higher than that of inflation. If inflation in Kenya is at 7%, make sure your investments give you a return that is higher than 7% in order to get compensated for inflation. A good Pension Fund, for example, will give you an interest rate between 9-12% per annum
Thanks Coach! Very useful information. I am wondering - what are the benefits of choosing the pension plan over a normal MMF - over the same period of time? Lets say i keep the same deposits lets say 30 years...how will these compare in pension funds and MMF? Someone would say - for MMF - i have better control of my funds?
Pension Funds have Tax Advantages because they are long-term. With an MMF you will end up paying so much Withholding Tax, because it’s deducted monthly from the interest you earned.
When funds are long term they give the investment manager an opportunity to invest in assets which may not give returns in the short term but over the long term they outperform the short term investments @@susan.wanjiku_
Insurance Agents please sell the Right Products to clients by keeping the clients' needs first and not your self greed. Let there be professionalism and Integrity when advising and profiling a prospect.
Thank you, Coach Suzan, but can you elaborate more on people who aren't citizens of Kenya coz your session is about people from Kenya, so how about those interested in investing in Kenya but their from East African countries what advice would you prefer them to benefit in this sessions will also.
You made me open britam, am So great full, it's never too late it doesn't matter how old you're even if you're in your 40+ still you can start from there.
It is good. But incase of death what happens before that time comes . Will it be transferred to my next of kin or lt will be an extreme loss. But God forbid this to happen.
Susan talk about pension fund in MMF funds. do they offer the same service you are talking about like guranteed pension fund or Annuity, or are there risk factors in opening a pension fund in MMF
A Pension Fund and a Money Market Fund (MMF) are two different products. They may be offered by the same company but they are different investment products that serve different purposes. A Pension Fund is for retirement savings while a MMF is for short-term to medium term savings for life goals such as an Emergency Fund, School Fees, Projects, etc. You cannot use one to replace the other.
Wouldn't the interest from the loan eat into the interest from the mmf? Would it not make better sense to funnel money into an mmf instead of a sacco until you have reached your emergency saving goal?
Is pension fund refundable? Lets say maybe you die before you retire or die immediately after retire even before you start receiving your monthly pension income
Yes. You must add beneficiaries to all your investment accounts. So that if you die, your beneficiaries will access the money upon presentation of your death certificate and following all the necessary legal procedures for succession
Thank you very much for the informative video Coach. Just two questions; 1. In the event one passes on, what happens with the money? 2. Does the money still earn interest after maturity ?
My question too........@susan.wanjiku...kindly does it have continuity....Incase someone dies..,,,will next of keen will continue to receive monthly benefits..?
Check out the *MoneyVersations* channel. The guy focuses on MMF's and tracks performance of various companies weekly, monthly, and quarterly. I opened an account this month and looking at the next avenue to put my money into which looks like pensions!
