ADVOKS GLOBAL · KENYA
Public Service Superannuation Scheme Act
28. Payment of retirement benefits
Edition: 2022-12-31 · In force
28. Payment of retirement benefits
(1)Where a member retires as provided in this Act the member may, on written request to the Administrator, withdraw a lump sum from the balance in his retirement savings account that shall not exceed the equivalent of one third of the balance:Provided that a member may withdraw any additional voluntary contributions made into the Scheme and accrued interest in full.(2)The retirement benefits may be paid to a member who retires under section 27 in—(a)monthly or quarterly withdrawals calculated by an actuary on the basis of an expected life span and payable out of the Fund; or(b)a monthly or quarterly annuity for life purchased from a life insurance company of a member’s choice;Provided that the annuity shall include a provision for benefits payable to dependants upon a member’s death.(3)Notwithstanding the provisions of any other written law, a pension, gratuity or other allowance granted under this Act shall not be—(a)assignable or transferable except for the purpose of satisfying—(i)a debt due to the Government; or(ii)an order of any court for the payment of periodical sums of money towards the maintenance of the wife, or former wife, or minor child, of the officer to whom the pension, gratuity or other allowance has been granted;(iii)a cause for assignment approved by the Retirement Benefits Authority; or(b)liable to be attached, sequestered or levied upon for or in respect of any debt or claim whatsoever except a debt due to the Government.(4)The payment of the retirement pension shall commence from the end of the month immediately following the month of the member’s retirement.