Prudential Guideline for Capacity Building of Trustees of Retirement Benefits Schemes

PRUDENTIAL GUIDELINE NUMBER RBA 001, 2013

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

This Prudential Guideline may be referred to as the Retirement Benefits (Capacity Building of Trustees of Retirement Benefits Schemes), Prudential Guideline Number RBA 001, 2013.

Pursuant to 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 has developed a Training Programme, namely "Trustee Development Program - Kenya". The objective of the programme is to facilitate training for the better administration of retirement benefits schemes in Kenya. The first programme commenced on 29th August, 2011.

The programme is a seven (7) unit, five (5) day certification course with examinations held at the end of each unit. The training is provided by the College of Insurance which gives an annual calendar setting out details of all training sessions.

All Trustees of Retirement Benefits Schemes and Directors of Corporate Trustees of any retirement benefits scheme in Kenya are hereby required to undergo training in the programme named above in order to be certified and approved by the Retirement Benefits Authority.

In order to comply, all trustees must ensure that they have undergone the training aforementioned by the end of the calendar year, 2014 to bring themselves to compliance with this guideline.

Each scheme shall be required to give evidence of compliance with this guideline, which would include but not be limited to a Certificate issued pursuant to training under the Trustee Development Program - Kenya.

Issued this 28th day of June, 2013.

DR. EDWARD O. ODUNDO, PhD., MBS. CHIEF EXECUTIVE OFFICER