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Platinum Draw Down

Investment beyond retirement.

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Platinum Draw Down

An Income Drawdown Plan is an investment product that provides you with an income from your retirement savings. The plan allows you access to your retirement savings as an income while keeping the balance invested.

The plan runs for a minimum of 10 years during which you receive income from the fund. The fund is invested in a guaranteed fund where it is protected against reduction.

Allows reinvesting and growing your retirement fund

The funds are invested in a guaranteed fund where they continue to grow as you access an income.

Ability to choose your income

Every year you can choose to access any amount up to a maximum of 15% of lump sum deposited as long as your fund will run for a minimum of 10 years.

Allows flexibility on frequency of income

You can choose not to access any income until a later date or you can vary the frequency of accessing the benefits every year to suit your income needs.

Enables you to purchase an annuity at a later date

After expiry of 10 years you can choose to purchase an annuity which will provide you with an income for life.

Allows you to leave an inheritance to your beneficiaries.

You can choose to leave part or your entire fund to your loved ones.

  • Are keen on further reinvesting and growing your retirement fund
  • Need to choose your income (subject to statutory limits)
  • Need flexibility in frequency of receiving your income
  • Intend to purchase an annuity at a later date
  • Have other sources of income and do not need a guaranteed income from your retirement savings
  • Wish to leave an inheritance to your beneficiaries

You can invest a minimum of Kshs. 5 million from your retirement savings. You can also continuously top up with funds from other source

At the end of the statutory period of 10 years, you can exercise any of the following options

  • Receive a refund of the remaining fund

  • Continue with the drawdown arrangement

  • Purchase an annuity to provide an income for life

You can choose the frequency of accessing your retirement income subject to statutory limits which can be monthly, quarterly, semi-annually, annually or on request.

You can also choose to access minimal or no income before 65 years to minimize on payable tax or choose to access less or more funds to suit your income needs.

You can also adjust the frequency of accessing he benefits art the beginning of every year.

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