PENSIONS ACCOUNT

Everyone needs to plan ahead for retirement. People are living longer and have healthier lives. It is more important to consider your retirement income today than ever before.  A few of us understand the real facts about pensions.

The Y-Save Pension Account is a long-term investment designed to provide an income in retirement. You choose how much to contribute to your individual pension account.

In addition to NSSF (National security Fund) money or work-based provident funds/gratuity schemes, this account is for members who would like to put aside some of their savings specifically for future use.

The member’s pension savings can only be accessed when they are over 50 years old. For members aged 50 years and above, you can make contributions for a minimum of 5 years.

The savings on this account earns an interest of 11% PA, and it compounds itself annually until maturity of the money on the account.

Investing in a pension account can form an important part of your planning for retirement and the benefit with our pension account is that we accept regular contributions, single contributions and payments from mobile money and members’ bank accounts through direct debits and other bank transfers.

• Helps members save up for their retirement
• The member’s savings grow with an interest of 11% PA.
• There are Unrestricted free deposits
• There are no account maintenance or monthly charges