Senior Pension Officer, Income Draw Down (IDD) - 1 Post(s)

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Company Details
Industry: Banking
Description: The Kenya Power & Lighting Company Limited Staff Retirement Benefits Scheme (โ€˜The Fundโ€) was established by a Trust Deed dated 1 January 1970. The Fund is a defined benefit occupational pension fund and was formed for the employees of The Kenya Power & Lighting Company Limited (โ€˜the Sponsorโ€™), then known as East Africa Power and Lighting Company Limited. The Fund is governed by Trust Deed and Rules which have been approved by the Retirement Benefits Authority (RBA). The main purpose of the Fund is the provision of cash benefits and pensions to the members upon attainment of the retirement age of sixty years, and where applicable, benefits for dependents of deceased members. The Fund is among the largest Pension Funds in Kenya and is mature. The number of active members above the age of 50 years, pensioners and deferred pensioners is much greater than the number of younger active members. The Fund is approved by Kenya Revenue Authority as a retirement benefits scheme for the purposes of the Income Tax (Retirem
Job Description

The Senior Pension Officer, IDD is responsible for the day-to-day operations of the Income Drawdown Fund. The role involves processing retirement benefits, maintaining member records, preparing payrolls and benefit statements, and providing frontline support to members. The officer ensures accurate and timely execution of operational activities in compliance with set policies and procedures.

 

Minimum Qualifications

 

Qualification: Bachelors Degree

 

Experience: 5 year(s)

 

Key Responsibilities

 

Manage Day to day activities of the IDD Fund

 

Process retirement and withdrawal benefits for members exiting service (early/normal retirement resignation, dismissal, immigration, etc.).

 

Prepare and distribute IDD benefit statements detailing contributions, drawdown rates, interest credits, and balances.

 

Prepare the IDD pensioners payroll accurately and on time

 

Implement approved annual drawdown rates in members’ accounts.

 

Handle queries, complaints, and concerns from members regarding IDD benefits

 

Support member education initiatives by providing accurate data and operational insights.

 

Provide data and operational input for preparation of reports, financial reviews, audits, and ISO processes.

 

Participate in the formulation and implementation of annual operational action plans.

 

Support marketing and awareness initiatives by supplying accurate information and engaging directly with members when required

 

Required Knowledge, Skills, and Abilities

 

Bachelors Degree or an equivalent in bachelor of business management from accredited and recognized institution.

 

Professional in bachelor of science (actuarial science with it) from accredited and recognized institution.

 

Bachelors Degree or an equivalent in bachelor of science (actuarial science with it) from accredited and recognized institution.

 

Bachelors Degree or an equivalent in bachelor of arts (economics & sociology) from accredited and recognized institution.

 

Bachelors Degree or an equivalent in bachelor of science (statistics) from accredited and recognized institution.

 

Interpersonal and cross-cultural skills, including ability to build collaborative relationships with sensitivity to diversity/inclusion.

 

Creativity and innovation skills.

 

Action oriented and demonstrated ability to manage priorities

 

Quality focus and attention to detail.

 

Professionalism and integrity in line with Kenya Power Pension Fund values.

 

Good oral and written communication skills.

 

Critical and analytical thinking and problem solving skills.

 

Personal motivation and drive exhibited through commitment to hard work, continuous improvement and achievement of goals.

 

Good customer relationship management skills (internal and external customers).

 

Risk awareness and focus - demonstrate understanding of risk management practices, standards and regulatory requirements.

 

Possess a professional certificate of bachelor of science (actuarial science with it)

 

Should be a member of Certified Pension Analyst Manager

 

Should be a member of Member of Actual Society of Kenya

 

Should be a member of Institute of Pension Management or their equivalent

 

Should be a member of Institute of Human Resource Management

 

 

 

Education: Degree, Diploma
Employment Type: Full Time
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