FAQs

Frequently Asked Questions

1. What will happen to my past service if I join the new scheme?

The accrued benefits will be calculated and paid to your account at the PSSS Scheme on retirement

  • Yes, you take a lumpsum of your savings at retirement and will receive regular monthly/quarterly payments.
  • A third of your scheme savings will be the lumpsum and the the balance as monthly pension.

No, the scheme is mandatory for employees aged below 45 years and any new employees joining the public service on/after 1st January 2021

Yes, you can give the Additional Voluntary Contributions but the government will not top up its contribution beyond 15%.

  • Like other contributory pension schemes, the scheme is registered and regulated by Retirement Benefits Authority.
  • Members have representation in the Board of Trustees through the Union

Benefits will be paid as per the RBA regulations which caps it at a maximum of 30 days after exit.

The Board of Trustees

  1. Chairman who shall be appointed by the CS, National Treasury
  2. The Principal Secretary in the National Treasury or his representative;
  3. The Principal Secretary in the Ministry for public service or his representative;
  4. The Secretary to the Teachers Service Commission or his representative;
  5. The Secretary to the Public Service Commission or his representative;
  6. The Inspector General of the National Police Service or his representative;
  7. Kenya National Union of Teachers representative;
  8. Kenya Union of Post Primary Education Teachers representative;
  9. Union of Kenya Civil Servants representative; and
  10. The Chief Executive Officer to be appointed under section 20

You can use your contributions to finance the purchase of a residential house for up to 40% of your savings subject to a maximum of seven million shillings

Benefits will be equal to = Employer contribution + Employee Contribution + Investment income

11. How will my contributions be invested?

Investments will be done as per the guidelines of Retirement Benefits Authority

No, it is not anticipated that there are no returns since the investments will be done in line with Retirement Benefits Act.

YES, It will be audited by an independent audit firm and the statements will be available.

Yes, there will be AGMs held every year

The expenses will be met out of the investment income subject to a maximum of 10% of that income.

  • Contributions will cease on joining  to the Scheme
  • The contribution will be paid as per the NSSF Act.

No. You cease to be a member under WCPS when you join the new scheme.