Looking for flexibility and easy access to your post-retirement fund? The Income Drawdown is just the solution for you available to persons over the age of 50yrs following retirement from employment. It gives you control of how much income you take (which is taxable) and can make withdrawals whenever you want; monthly, quarterly, semi-annually, or annually subject to the maximum drawdown amount.
Why get the Income Drawdown?
- Always access your pension in a flexible way.
- You may reinvest accumulated retirement benefits.
- This generates a sustainable income throughout retirement.
Key Benefits
Average return for last 10 years at 10.5% due to strong investment performance
Top up is allowed
Control of how much you draw down
Leave an inheritance for your beneficiaries
Yearly bonus income due to strong investment performance
Tax-free pension limit
Guaranteed investment return of 5% in first 2 years and 4% subsequent
FAQs
You will be able to withdraw up to a maximum of 15% of your retirement account balance.
A minimum drawdown period is the minimum period you will have to withdraw a pension from the fund. Minimum period set by the retirement benefits authority is 10 years.
Recommended minimum is KES 1,000,000 from your retirement savings or any other savings. However, you can top up periodically to have a larger pot to draw from.
