PENSIONS LAW

We render legal advisory services on Retirement Benets Matters to Retirement Benets Schemes, Service Providers (Custodians, Administrators, Actuaries, Fund Managers), and the Retirement Benets Authority. Simba & Simba is a registered member of the Association of Retirement Benets Schemes. Three of our Advocates are duly trained and serving independent Trustees for various Schemes and thus have practical awareness of the legal needs of the Schemes.

Our services include:

  • Drafting Trust Deeds and Rules
  • Conducting in-depth regulatory compliance audits.
  • Amending and reviewing Trust Deeds and Rules to be up to date with the
  • Retirements Bene ts Laws
  • Advising Pension Schemes, Pension Administrators and Liquidators of
  • Schemes on various aspects of the law under Retirements Bene ts Act
  • such as conversion of schemes from De ned Bene ts to De ned Contribution;
  • how to treat any de cits; the Statutory Remedial Plans; how to
  • conduct meetings amongst other corporate governance matters.
  • Drafting Scheme Policies
  • Advising on areas of assess to bene ts including through mortgage
  • Training various topics including legislative change
  • Attending Trustees Board Meetings
  • Registration of new Schemes and amalgamation of Schemes
  • Advising on Regulatory Compliance
  • Winding up Trusts and Schemes
  • Representing Schemes in Pensions Litigation at both the Retirement Benefits Appeals Tribunal and in Court

We have been involved in pace-setting regulatory reforms and transactions in the East African pension industry such as:

  • Facilitating the drafting of the National Retirement Benefits Policy to address concerns such as low coverage, non-payment or delayed payment of pensions and weak enforcement of pension laws.
  • Advising the World Health Organization on pertinent regulatory and policy issues pertaining to the East African pension market.
  • Advising a multi-national corporation which manages close to KES. 300 Billion worth of pension funds in Kenya on the feasibility of their proposed launch of digital-pension product.
  • Advising a foreign Government Scheme on legal regulatory compliance issues in transactions valued at KES. 1.2 Trillion.

The Firm continues to timeously advise various clients on issues/matters arising out of the amendments proposed and made by the Cabinet Secretary of the National Treasury during the budget speech and its impact on their Schemes.