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How the defined retirement scheme works in Kenya
Contributions made by members lower their taxable income thereby enabling tax savings. file photo | nmg
This is the third part of my series of articles on the retirement benefit sector in Kenya. In the first part, I focused on how retirement schemes are structured in Kenya and how the structure helps to protect members and reduce risk of mismanagement.
The second article covered the various types of retirement schemes offered in Kenya and the ways they can be classified. I ended by explaining that most schemes are structured as either Defined Contribution (DC) or Defined Benefit (DB) scheme. In this article, we will start to explore the differences between DB and DC schemes.
