Retirement benefit schemes are established to provide benefits to members in retirement. The Retirement Benefits Authority was established to regulate and oversee the growth of the schemes for the benefit of members.
The retirement schemes serve among others the following objectives;
i) Payment ... read moreof benefits to members on attainment of retirement age
ii) Avail benefits to members on leaving service
iii) Stabilize financial well-being of retirees
iv) Provide financial protection to members’ dependants on death in service
v) Provide disability benefits
vi) Alleviate old age poverty
The Government has operated a non-contributory Pension Scheme since independence fully financed through the Exchequer. As part of the reforms in the Public Service Pensions Sector, the Government enacted the Public Service Superannuation Scheme Act, 2012.
The Act established the Public Service Superannuation Scheme (PSSS) in line with the Policy direction issued by the Government through The National Treasury Circular No. 18 of 2010. The Government directed the conversion of all Defined Benefit (DB) Schemes in the Public Sector to Defined Contributory (DC) Schemes. The objective was to align public service pension schemes with best practices in the retirement benefits industry.
The Public Service Superannuation Scheme (PSSS) commenced on 1st January, 2021.
Responsibilities
Responding to customer enquiries and complaints;
Obtaining and evaluating all relevant data to handle complaints and inquiries; and
Recording details of comments, enquiries,
Responsibilities
Ensuring brand building activities are carried out through extensive member education using media, road shows and sponsorships;
Establishing customer segmentation system and e
Responsibilities
Developing and implementing policies, systems and processes to ensure the effective processing and payment of benefits;
Ensuring that benefits are computed promptly, accuratel
Responsibilities
Participating in data collection for actuarial valuation;
Participating in analysis of assets;
Monitoring performance of the portfolio, asset allocation and the compliance o
Responsibilities
Participate in the preparation of policy documents such as Investment Strategy, Investment Policy and Interest Declaration and Reserve Allocation Policy;
Analyzing invoiced fe
Responsibilities
Managing the Fund's portfolio of securities to ensure profitability and compliance with the Fund's risk management policy;
Monitoring the external Fund Managers in the
Responsibilities
Managing the Fund's portfolio of securities to ensure profitability and compliance with the Fund's risk management policy;
Monitoring the external Fund Managers in the
This is the entry and training level for this cadre. An officer at this level will work under the supervision of a senior officer.
Duties and Responsibilities
Participating in the planning of
Duties and Responsibilities
Preparing audit programs and planning memorandum for individual assignments;
Participating in audit entry and exit discussions;
Monitoring and reviewing the execu
Duties and Responsibilities
Preparing and reviewing lease contracts and licenses for the user department;
Reviewing court documents prepared by external lawyers;
Monitoring legal cases being
Duties and Responsibilities
Initiate the development of policy documents such as Investment Strategy, Investment Policy and Interest Declaration and Reserve Allocation Policy;
Conducting actua
Job Specifications
Duties and responsibilities at this level will entail;
Formulating and implementing of leading investment management strategies for the Fund;
Developing policy guidel
