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Annuities & Pensions

About to retire? Don’t worry, let us help you figure it out as you transition to the next an especially important part of your life.

As a new retiree there are 1001 concerns in your mind.

How do I keep away from outliving my money? What if I still have debt? How do I manage health care costs? etc.

It is completely okay to get worried! But, we can help. Let us help you transition into retirement like a boss.

Retirement has the potential to be a relaxing and fulfilling stage of life. But as with any major

Change in life, we know, retirement presents a new set of challenges that may cause anxiety.

Just let us show you how to walk through this phase with ease.

How we power your purchase journey.

Need analysis discovery:

We identify your most valuable insurance needs.

Offer Creative solutions:

Quickly get the most practical solutions for your risks.

Keep you informed, updated and in control:

With BH you stay informed and have control in your hands to make the right move as you continuously receive your payouts.

Would it be helpful to look over someone’s shoulder while they talked you through how you can transition into retirement?

By laying some financial groundwork now, you can ensure a smooth transition to retirement by addressing the biggest financial concerns in retirement.

Just let us show you how!

There are two types of pensions plans whose difference is simply in how a pensioner can access their retirement benefits;

Pension Plan;

A pension fund by design allows you to access a maximum of one-third of your accumulated benefits as a single lump-sum. The other two-thirds automatically purchase the pensioner a pension annuity. Pension annuity pays a guaranteed regular income for life.

Provident fund:

It pays the accumulated benefits as a one-off single lump-sum payment. Up to which Kshs. 600,000 is tax-free.

In the unfortunate event of death for both pension and provident, the accrued amount is payable in lump-sum to the nominated beneficiary.

At this point you probably have one of these two, since the choice of the type of pension plan one prefers is decided much earlier at the commencement of contribution. 

Whether pension plan or provident we will guide you based on your retirement goals and personal preferences.

At Retirement there are two common retirement Income Products that you can purchase with your retirement lump sum payments:

Annuity;

The accumulated fund at retirement can be used to purchase an annuity. Annuity or pension is the after-retirement income you receive and is a series of periodic payments payable mostly monthly throughout your life. Annuity is the most common product retirees purchase when they retire and receive their pension proceeds. An annuity is an insurance policy that guarantees a regular income for a lifetime or for a preferred period of years in exchange for a lump sum deposit.

Income Drawdown:

Income drawdown is an alternative to annuity, it works as an investment product mostly with a minimum term of 10 years with flexible options that provide a regular retirement income from the reinvested funds. The retiree decides to lock in their pension proceeds for several more years for high yield and fund growth. However, the income you get will vary depending on the fund’s performance and unlike annuity it isn’t guaranteed for life.

Good News! As a retiree, you can buy these products from any insurance company, not necessarily your registered pension scheme.

Let us guide you into the best available options!

Got a Pension Question? Do not hesitate to ask. No Jargon Just Simple easy money advice. All for Free!

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Why Plan with with us?

Here is what we will do

Bima Hakika walks with you through every step! As soon as you make an enquiry, you will be assigned your own dedicated insurance advisor who will discuss all the available options with you.

Should you wish to apply, we will guide you through the whole application process, in a simple, clear, and easy to understand manner.

And wait, we do not stop there: we provide you with customer support after you have bought the policy because we believe in creating lasting relationships.

Let's talk about retirement planning!

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Want to Learn More?

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 Are retirement benefits tax-exempt?

 Are retirement benefits tax-exempt?

Annuities & Pensions
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