2. INTRODUCTION I welcome you all to the 2012 Members Education Day. I welcome you all to the 2012 Members Education Day. The Trustees are committed to educating members and every year they ensure they go around all the campuses for that purpose. The Trustees are committed to educating members and every year they ensure they go around all the campuses for that purpose. The following is the program for this year’s members’ education, The following is the program for this year’s members’ education,

3. PROGRAM FOR THE MEMBERS’ EDUCATION ItemTimeFacilitator Opening Remarks and Introduction 12.30 p.m. – 12.35 p.m.Chairman - BoT Updates on the Pension Scheme 12.35p.m. – 12.50 p.m.Chairman - BoT Personal Finance Management 12.50p.m. – 1:50 p.m.Peter Wachira - Pinebridge Questions & Answers1.50 p.m. – 2.00 p.m.Chairman - BoT Vote of Thanks2.00 p.m.Representative of College/ Campus

4. BOARD OF TRUSTEES Prof. P.M.F. Mbithi- Chairman, rep. Council Prof. P.M.F. Mbithi- Chairman, rep. Council Prof. G.A.O. Magoha- Rep. Council Prof. G.A.O. Magoha- Rep. Council Prof. L.W. Irungu- Rep. Council Prof. L.W. Irungu- Rep. Council Mr. I. O. Awuondo- Rep. Council Mr. I. O. Awuondo- Rep. Council Dr. W. Nyangena- Rep. Teaching Staff Dr. W. Nyangena- Rep. Teaching Staff Prof. P.G.O. Weke- Rep. Teaching staff Prof. P.G.O. Weke- Rep. Teaching staff Mr. B.D. Njuguna - Rep. Non-Teaching Staff Mr. B.D. Njuguna - Rep. Non-Teaching Staff Mr. M. A. Adala- Rep. Non-Teaching Staff Mr. M. A. Adala- Rep. Non-Teaching Staff Ms. R.W. Ngondo- UoN Chief Legal Officer(Co-opted) Ms. R.W. Ngondo- UoN Chief Legal Officer(Co-opted)

5. NEW NON-TEACHING MEMBER TRUSTEES Mr. B.D. Njuguna & Mr. M. Adala replaced Mr. N. A. Oyugi and Mr. G. P. Mbugua the previous Non-Teaching member elected Trustees. Mr. B.D. Njuguna & Mr. M. Adala replaced Mr. N. A. Oyugi and Mr. G. P. Mbugua the previous Non-Teaching member elected Trustees. ELECTION FOR TEACHING MEMBER TRUSTEES The term for Dr. W. Nyangena, will expire in October 2012, but he is eligible for re-election having served only one term. The term for Dr. W. Nyangena, will expire in October 2012, but he is eligible for re-election having served only one term. Elections to be conducted in the month of September 2012. Elections to be conducted in the month of September 2012. Members are requested to participate actively to elect their Representative Trustee Members are requested to participate actively to elect their Representative Trustee More information to be given later. More information to be given later.

6. SECRETARIAT SECRETARIAT The members of the Secretariat are as follows: - Mrs. T.K. Alyela: Scheme Administrator Mrs. T.K. Alyela: Scheme Administrator Mr. C. O. Otage: Scheme Officer Mr. C. O. Otage: Scheme Officer Mr. J. K. Kariuki: Scheme Accountant Mr. J. K. Kariuki: Scheme Accountant The Scheme’s buildings have the following employees:- Mr. Isaiah Kaara : Caretaker AMBANK House Mr. Isaiah Kaara : Caretaker AMBANK House Mr. David Mwangi: Electrician Mr. David Mwangi: Electrician Mr. Philip Kioko : Caretaker UNIPEN Flats Mr. Philip Kioko : Caretaker UNIPEN Flats

7. SERVICE PROVIDERS The Trustees are fully responsible for managing the Scheme in accordance with the Trust Deed and Rules. However the Trustees are required under the law to engage services of various service providers while carrying out their duties. The following are the current Scheme’s service providers: - Fund Managers: Genesis Kenya & Pine Bridge Fund Managers: Genesis Kenya & Pine Bridge Custodians: Standard Chartered Bank. Custodians: Standard Chartered Bank. Actuary: Alexander Forbes Financial Services Actuary: Alexander Forbes Financial Services Lawyers: Kaplan & Stratton Lawyers: Kaplan & Stratton External Auditors: Kenya National Audit Office External Auditors: Kenya National Audit Office

8. MEMBERSHIP All staff on permanent and pensionable terms of employment by the University of Nairobi (Sponsor) are eligible to join the University of Nairobi Pension Scheme 2007. All staff on permanent and pensionable terms of employment by the University of Nairobi (Sponsor) are eligible to join the University of Nairobi Pension Scheme 2007. Newly employed members should ensure they obtain membership registration forms either from the Scheme’s offices or from the offices of the Registrars of their respective colleges. Newly employed members should ensure they obtain membership registration forms either from the Scheme’s offices or from the offices of the Registrars of their respective colleges.

9. MEMBERS ON UNPAID LEAVE OF ABSENCE Members who go on unpaid leave of absence are required to continue making contributions to the Scheme (i.e. 30% of their basic salary) to ensure their membership. Those members of staff on unpaid leave who do not continue contributing stand the risk of losing the benefits of a member, as in the case of death in service.

10. Additional Voluntary Contributions (AVCs) Members are encouraged to make AVCs in order to enhance their benefits. Members are encouraged to make AVCs in order to enhance their benefits. There is also a tax benefit for pension contributions up to KShs 20,000 per month. There is also a tax benefit for pension contributions up to KShs 20,000 per month. AVCs together with accrued interest are payable in full whenever members leave the Scheme. [i.e. AVCs are not subject to the requirement of “1/3 rd lumpsum and 2/3 rd” ]. AVCs together with accrued interest are payable in full whenever members leave the Scheme. [i.e. AVCs are not subject to the requirement of “1/3 rd lumpsum and 2/3 rd” ]. Members wishing to make AVCs should write a letter to the Finance Officer, stating the amount to be deducted, and giving a copy of the letter to the Scheme Administrator. Members wishing to make AVCs should write a letter to the Finance Officer, stating the amount to be deducted, and giving a copy of the letter to the Scheme Administrator.

11. UNPS STRATEGIC PLAN The Trustees have come up with the first ever Strategic Plan for the Scheme for the period 2012 – 2014. The Trustees have come up with the first ever Strategic Plan for the Scheme for the period 2012 – 2014. This will enable the Trustees to assess the performance of the Scheme against the set up strategic objectives. This will enable the Trustees to assess the performance of the Scheme against the set up strategic objectives.

12. FUND VALUE The Trustees have continuously adhered to prudent investment strategies within the approved guidelines provided by the Retirement Benefits Authority (RBA). The Trustees have continuously adhered to prudent investment strategies within the approved guidelines provided by the Retirement Benefits Authority (RBA). As at 31 st March 2012 the Scheme’s fund value stood at KShs. 7,106,625,741.62 compared to KShs. 6,237,688,453.50 as at 31 st March 2011. As at 31 st March 2012 the Scheme’s fund value stood at KShs. 7,106,625,741.62 compared to KShs. 6,237,688,453.50 as at 31 st March 2011.

13. Scheme’s Investment Portfolio as at 31.3.12

14. Scheme’s fund growth for the period 2009 to March 2012

15. BENEFITS PAYABLE BY THE SCHEME Normal Retirement Benefits Normal Retirement Benefits Early Retirement Benefits Early Retirement Benefits Retirement on ill Health Retirement on ill Health Death Benefits Death Benefits Withdrawal Benefits Withdrawal Benefits

16. Trivial Pension Members whose 2/3rds amounts to an annuity, which is less than 75% of the minimum wage, have the option of being paid the entire 2/3rds. Currently the amount of Trivial Pension is KShs 5,308.

17. RATE OF RETURN AND BENEFIT STATEMENTS Rate of return declared by Trustees for the financial year ending 30 th June 2011 was 3%. This was relatively lower compared to the one declared in the previous year because of the general decline in the economic environment. Rate of return declared by Trustees for the financial year ending 30 th June 2011 was 3%. This was relatively lower compared to the one declared in the previous year because of the general decline in the economic environment. Member’s however are requested to note that the rate of return declared was still amongst the best in the industry. Member’s however are requested to note that the rate of return declared was still amongst the best in the industry.

18. NOMINATION OF BENEFICIARY FORMS Members are advised to complete the nomination of beneficiaries’ form and update them regularly so that in the event of death it makes it easier for benefits to be processed and disbursed to their beneficiaries. Members are advised to complete the nomination of beneficiaries’ form and update them regularly so that in the event of death it makes it easier for benefits to be processed and disbursed to their beneficiaries. Nomination of beneficiary forms are available at the Scheme offices or at the College Registrar’s offices. Nomination of beneficiary forms are available at the Scheme offices or at the College Registrar’s offices.

19. PRE-RETIREMENT SEMINAR This year’s pre-retirement Seminar has been scheduled to be held in August/ September 2012 for members who are remaining with ten (10) years or less to retire and who have not undergone the training. This year’s pre-retirement Seminar has been scheduled to be held in August/ September 2012 for members who are remaining with ten (10) years or less to retire and who have not undergone the training. More information will be sent to members at the appropriate time. More information will be sent to members at the appropriate time.

20. SCHEME’S OFFICES AND CONTACTS The Scheme’s offices are located on 3 rd Floor of UNIPEN Apartments Block A. Members are free to visit the offices and make any relevant enquiries concerning their Scheme. The Scheme’s offices are located on 3 rd Floor of UNIPEN Apartments Block A. Members are free to visit the offices and make any relevant enquiries concerning their Scheme. The following are the contacts for the Scheme: The following are the contacts for the Scheme: Address: P. O. Box 30197 – 00100 GPO, Nairobi Telephone :2730835, 2730945/6 Fax :2730836 E-mail: uonpension@uonbi.ac.keuonpension@uonbi.ac.ke

21. Thank You