FINANCIAL PLAN FOR YOUR GOLDEN YEARS

Over 20,000 people from the public sector in Kenya among them teachers and civil servants  will retire from active employment this year; according to information in the Human Resource Planning and Succession Management Strategy for Public Service, 31 per cent of staff at both national and county level are between 50 and 59 years old.

The number of retirees is expected to triple  nationally as over 40,000 people are also set to retire from the private sector.

Without a good financial plan these retirees are threatened with sudden lack and unforeseen  reduction in social and economic resources needed to enjoy or live a dignified life upon their retirement.

 Member sensitization

The financial future and social wellness of every retiree is dependent on the saving and plans he or she makes at the time of his or her employment.

The Kenyan worker retirement plan is a priority, and for it to succeed, Workers or members of an organization or institution must be empowered to, decide, invest or contribute to a retirement savings plan.

                                    Ms Linda chebet an instructor takes through members who are
                            about to retire from service on the retirement savings plan

Imarisha Sacco is running a Senior citizens Savings Account sensitization programme.

    Members listen to an instructor during a past retirement
sensitization day

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Action plan

Chairman supervisory board Mr.Peter Sigei.

While addressing members at a delegates meeting held recently, the supervisory board Chairman Mr. Peter Sigei said,” I congratulate the board for developing this product; this will assist our members upon retirement, I recommend that all members should start contributing to this account upon receiving appointment letters to ensure that they reap their benefits and enjoy their retirement",he added that"a minimum of ksh.500 is deducted through a standing order on monthly basis". This contributions are saved in the individuals senior citizens savings account.

Benefits  
Imarisha Sacco FOSA senior citizen savings account is aimed at giving members the strength to move and rekindle old hobbies or start new ones upon retirement.

By contributing to the Imarisha senior citizens account your money earns an  interest annually and can be accessed upon retirement” Mr.Sigei concluded.

Retirees can now  live a happy, free and active lifestyle upon their retirement,they can start new ventures or improve existing projects such as farming, build rental houses, see your children through school, build or make expensive repairs in your homes and other premises.

You can now  start contributing to this account so as to enjoy your golden years without any hustle.

@imarishasacco

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