Maseno University Retirement Benefits Scheme (MURBS) is a pension scheme for staff of Maseno University and Tom Mboya University. The Scheme is internally administered by a competent Secretariat team and overseen by a Board of Trustees, ensuring transparency, accountability, and compliance with regulatory standards. MURBS is committed to safeguarding members’ retirement savings and securing their financial future.
Members contribute 10% of their basic salary, while the employer contributes 20% of the basic salary. Additional employer contribution: 2.5% of basic salary towards insurance cover. A member may opt for Additional Voluntary Contributions (AVC) or/and Post-Retirement Medical Fund (PRMF) contributions. The Scheme also allows transfer-in of benefits from other retirement schemes, giving members flexibility and continuity in building their retirement savings. This structure ensures members steadily build retirement savings while enjoying flexibility and added security.
MURBS has diversified its investment portfolio across approved asset classes such as government securities, equities, and real estate. Investments are managed by professional fund managers and safeguarded by custodians, ensuring compliance and sustainability. Returns generated from investments are credited directly to members’ accounts, enhancing the value of their retirement savings.
Members are entitled to benefits in line with prevailing Retirement Benefits Authority (RBA) regulations. Payments are made under the following circumstances:
These benefits ensure that members and their dependents are supported through different life stages and circumstances.
