Regulatory Alerts2023-03-02
Added · Updated
Prudential Guideline for Capacity Building of Trustees of Retirement Benefits Schemes: Addendum
The Retirement Benefits Authority has mandated that all trustees and directors of corporate trustees must complete the Trustee Development Program – Kenya to receive certification. This five-day, six-unit program, established to enhance scheme administration, was developed in partnership with the College of Insurance and international stakeholders. The compliance deadline for undergoing this mandatory training has been officially extended from 31 December 2014 to 31 December 2015.
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 initial deadline for compliance by Trustees to undergo the training program which was 31st December 2014 has been extended to 31st December 2015. 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 19th day of February, 2015
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