About GenAfrica Milele Income Draw Down Fund
The Milele Income Drawdown Fund aims to provide retirees with financial freedom, flexibility, and security during their retirement years. This fund allows retirees to invest and withdraw funds in accordance with Retirement Benefit Authority (RBA) regulations, with the remaining balance continually reinvested. The primary objective is to consistently deliver superior returns to clients.
This fund enhances flexibility for retirees, enabling them to adopt an investment profile that effectively manages risk while ensuring a predetermined income flow over the long term. Established in April 2015, the fund currently serves 800+ retirees across the region. The product operates within the confines of the Retirement Benefits Authority guidelines, during which retirees receive a steady income from the fund.
About GenAfrica Milele Income Draw Down Fund
The Milele Income Drawdown Fund aims to provide retirees with financial freedom, flexibility, and security during their retirement years. This fund allows retirees to invest and withdraw funds in accordance with Retirement Benefit Authority (RBA) regulations, with the remaining balance continually reinvested. The primary objective is to consistently deliver superior returns to clients.
This fund enhances flexibility for retirees, enabling them to adopt an investment profile that effectively manages risk while ensuring a predetermined income flow over the long term. Established in April 2015, the fund currently serves 800+ retirees across the region. The product operates within the confines of the Retirement Benefits Authority guidelines, during which retirees receive a steady income from the fund.
Key Advantages of the Milele Income Drawdown Fund
- Income Reinvestment While Receiving Monthly Payments:
As retirees enter their golden years, effective financial planning becomes paramount. The Milele Income Drawdown Fund enables members to withdraw pension income while concurrently reinvesting the remaining balance within the fund. This reinvestment is overseen by an appointed fund manager, duly licensed by the Retirement Benefits Authority (RBA).
- Enhanced Flexibility:
Individual members enjoy flexibility in terms of the frequency, timing, and amount of income withdrawals. Members can opt to defer accessing any income until a later date while their funds continue to be invested.
- Limited Risk to the Scheme:
The Scheme operates as a distinct legal entity, separated from the founding company as a Trust. It is registered and regulated by both the Retirement Benefits Authority (RBA) and the Kenya Revenue Authority (KRA). Additionally, an appointed Custodian holds the Scheme Assets separately from the assets of the founding company, providing added security to your retirement savings.
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