Retirement benefits are becoming an important part of a comprehensive compensation package for staff to attract and retain the desired ones for the employers. This means the management of retirement benefits schemes will increasingly be under the spotlight of the government regulators, employers and employees. In this book, the author addresses areas of governance and general management of retirement benefits schemes. He highlights the responsibilities and roles of Trustees in governance of schemes. Finally, he points out best practices that need to be applied by Trustees and all stakeholders of retirement benefits schemes.
Mr. Fred Waswa is the Founder and Managing Director of Octagon Pension Services Limited in Kenya and Non-Executive Director of Octagon Uganda Limited in Uganda. He holds a Bachelor of Science in Mathematics from University of Nairobi. Fred has been working in the retirement benefits industry for over 24 years. He has previously served as a Pension Administration Manager for Standard Chartered Bank Kenya Limited and Pensions Principal Officer for Standard Chartered Bank Kenya and Standard Chartered Bank Uganda Limited. He is certified Trustee, Trainer and Examiner by the Retirement Benefits Authority. He chaired a Retirement Benefits Authority Committee to develop guidelines for the fees chargeable for Inspection, Liquidation, and Interim Administration of retirement benefits schemes in Kenya. He lectures at the College of Insurance on Trustee Development Programme Kenya and Institute of Human Resources. Fred has travelled extensively around the world and has presented pension papers to pension and benefits conferences including International Benefits Conference in London, Federation of Kenya Employers, Association of Retirement Benefits Schemes in Kenya and Association of Pension Managers in Addis Ababa. He is married with 2 children and lives in Nairobi.