Prudential Guideline for Capacity Building of Trustees of Retirement Benefits Schemes

PRUDENTIAL GUIDELINE NUMBER RBA 001, 2013

ADDENDUM

PRUDENTIAL GUIDELINE FOR CAPACITY BUILDING OF TRUSTEES OF RETIREMENT BENEFITS SCHEMES PURSUANT TO SECTION 26 (3) AND 55 (3) OF THE RETIREMENT BENEFITS ACT

Pursuant to the provisions of Sections 26 (3) and 55 (3) of the Retirement Benefits Act, the Retirement Benefits Authority in conjunction with the College of Insurance, the Association of Retirement Benefits Schemes and the Humber Center for Employee Benefits (Canada) developed the “Trustee Development Program – Kenya” whose objective is to facilitate training of Trustees for the better administration of retirement benefits schemes in Kenya.

The programme, a five (5) day certification course, comprising six (6) units with examinations held at the end of each unit commenced on 29th August 2011. The training is provided by the College of Insurance. All Trustees and Directors of Corporate Trustees of Retirement Benefits Schemes are required to undergo the Trustee Training Program in order to be certified and approved by the Retirement Benefits Authority.

Take note that the Trustees who were in office by the year 2015 and failed to comply with this guideline must ensure that they have undergone the aforementioned training on or before 30th June, 2016, whereas all the new Trustees must ensure they have complied with the same by 31st December, 2016 in order to conform to this guideline.

Each scheme will be required to give evidence of compliance with this guideline, which includes a Certificate issued pursuant to training under the Trustee Development Program – Kenya.

Issued this 18th day of January, 2016

DR. EDWARD O. ODUNDO, PhD., MBS. CHIEF EXECUTIVE OFFICER RETIREMENT BENEFITS AUTHORITY, 13TH FLOOR, RAHIMTULLA TOWERS, UPPER HILL ROAD, P.O. Box 57733-00200 NAIROBI Telephone: +254 20 2809000; Email: info@rba.go.ke; Website: www.rba.go.ke