Regulatory Alerts2023-03-02
Added · Updated
Supervisory Guideline Number RBA 1: Implementation of Regulation 25 (4) of the Retirement Benefits (Occupational Retirement Benefits Schemes) Regulations, 2000 on Trivial Pensions
The Retirement Benefits Authority has established the trivial pension threshold at Kenya Shillings 4,802, representing fifty percent of the current average minimum wage. This determination is made under the authority of section 55 (3) of the Retirement Benefits Act following the amendment of Regulation 25 (4) by Legal Notice No. 88. The new trivial pension limit is effective retrospectively from 10th June 2010.
SUPERVISORY GUIDELINE NUMBER RBA 1
IMPLEMENTATION OF REGULATION 25 (4) OF THE RETIREMENT BENEFITS (OCCUPATIONAL RETIREMENT BENEFITS SCHEMES) REGULATIONS, 2000 ON TRIVIAL PENSIONS
Following the amendment of Regulation 25 (4) through Legal Notice No. 88 dated 10th June, 2010, the Authority, in accordance with section 55 (3) of the Retirement Benefits Act hereby issues this Supervisory Guideline to the effect that the trivial pension shall be Kenya Shillings 4,802/= being fifty per cent of the current average minimum wage.
The determined trivial pension shall be effective from the 10th June, 2010.
Issued this 10th Day of August 2010
EDWARD O ODUNDO Chief Executive Officer