Old Mutual Personal Pension Plan

To set up an Old Mutual personal pension plan:

• You must be between 18 and 74 years old.
• You can also join by transferring your accumulated pension savings from another pension plan.
• You need at least KES. 500 per month deposited into your savings

The Old Mutual Personal Pension Plan offers you the following;

Flexibility: You can vary your contributions and access your interim contribution statement at any time.

Portability: The pension plan is not tied to your current employment, so you can keep it even if you change jobs.

Choice: You can choose to receive your accumulated savings as a lump sum or convert it into a stream of regular payments in retirement.

Tax benefits: The retirement plan is tax-exempt and your contributions are exempt up to set limits.

No penalties: We do not penalize you for withdrawing your savings.

Collateral: You can use up to 60% of your accumulated pension savings as collateral for a mortgage loan.

In other words, the pension plan offers you:

• The flexibility to save as much or as little as you can afford, and to access your savings when you need them.
• The peace of mind knowing that your pension savings are portable and will not be affected if you change jobs.
• The choice of how you want to receive your pension savings in retirement.
• Significant tax benefits on your contributions and savings.
• No penalties for withdrawing your savings.
• The ability to use your pension savings as collateral for a mortgage loan.