Individual Pension Plan

Mwavuli Individual Pension Plan

Mwavuli Individual Pension Plan is designed for individuals in both formal and informal sectors and small groups who would want to save for their retirement independent of an employer or on a voluntary basis.

Benefits of joining Mwavuli Individual Pension Plan Include:

  • Contributions are determined by the member.
  • Contributions can be made via Paybill.
  • Members can view statements online.
  • A member does not need to be attached to any employer.
  • A member has the option of accessing part of their fund before retirement- partial withdrawals.
  • Benefits can be paid out as determined by the member.
  • Contributions and investment returns are tax-exempt to the tax-free limits.
  • Friendly and knowledgeable members of staff.

Who can join Mwavuli Individual Pension Plan?

  • Self-employed individuals both in the formal and informal sector.
  • Individuals whose employers do not offer a retirement plan.
  • Small groups and “Chamas” who want to save for retirement.
  • Persons in the formal sector who want another retirement plan in addition to what the employer offers.
  • Any person who wants to save for retirement.