- 1. Planning for your retirement RETIREMENT BENEFITS OPEN DAY 18
thNovember 2006
2. Contents
- Overview of British-American Group
- Types of Retirement Benefits Schemes
- Services provided to Retirement Schemes: BAAM
3. Who Are We? British-American Investment Company Ltd (BAICL)
British American Asset Managers (BAAM) British American Insurance
Co. Ltd (Britak)
- Largest range of Regional Unit Trust Products
- State of the art Fund Management Software
- Largest range of Offshore investment Products
- Largest Life Insurance Company by market share
4. Overview of British-American
- British-American Group of Companies is a Global financial
services company with offices in London, Mauritius, Malta, Bahamas,
Washington DC and Kenya.
- The Group has a long-heritage, providing financial services
since 1920, over 85 years.
- The Kenyan operations, Britak, was established in 1965 and has
over 40 years of service in the Kenyan market providing individual
life, group life, health care and property/casualty insurance.
- The asset base of British-American in Kenya is in excess of
Kshs 7 billion with brand equity value in excess of 6 Billion
- Companies within the group have been successful in providing
investment products & services and are market leaders in their
respective jurisdiction
-
- Bramer Investment Management - Mauritius
5. Overview of BAAM
- BAAM was established in 2004 to offer asset management and
investment advisory services to individuals and institutional
clients and address a growing need for innovative investment
products and services
- BAAM is licensed as a Fund Manager by the Capital Markets
Authority (CMA) and the Retirement Benefits Authority (RBA)
- Currently managing in excess of Kshs 1.5 Billion, with over
1,000 clients
- Procured a state-of-the art Investment Administration and Fund
Management System The Advent Office, to enhance operational
efficiencies and high-standards of customer service.
- Launched a series of firsts in the market
-
- Financial Planning approach to investment advice
6. BAAMs Vision & Mission
- To be the preferred provider of superior asset management and
investment advisory services
- At British American Asset Managers, we empower our clients
worldwide to achieve and exceed their financial and investment
objectives by providing superior investment solutions and excellent
service that maximize stakeholder value
7. Types of Retirement Schemes
- Occupational Retirement Benefit Scheme:A Pension or Provident
Fund established by an employer for the benefit of employees. It is
suitable for employers with over 100 staff members.
- Umbrella Pension or Umbrella Provident Fund:This is an Umbrella
Retirement Fund for Small & Medium Enterprises (SMEs)i.e.
organizations with less than 100 employees. They all participate
under the Umbrella Retirement Fund thereby creating sufficient
critical mass for cost and benefit optimization.
- Individual Pension Policy:This is a Pension savings policy for
self employed persons or employees in organizations that do not
offer pension benefits.
8. Investment Services provided to Retirement Schemes: BAAM
-
- Discretionary Investment Management
- - Pooled Investment funds
-
-
-
-
- Fund Manager makes the investment decisions.
-
-
-
-
- Investment risk no underlying guarantees.
-
-
-
-
- Rate of return could be different from time to time.
9. British-American Managed Retirement Fund
-
- Pooled vehicle registered with the CMA and with the RBA
-
- Investment strategy aligned with the RBA investment
guidelines
-
- Provides benefits of pooling
-
- Administration of the Scheme can be carried out by a third
party or by Britak
10. British-American Managed Retirement Fund (cont.d)
-
- The fund is valued and priced daily on a net asset value
basis
-
- Clients may make withdrawals at any time
-
- The Fund aims to consistently perform in the top quartile of
retirement benefits funds
11. Why SAVE for retirement?
- 1.Financial Independence during retirement
- 2. We live much longer in retirement than in our working
lives.
- To maintain or improve the standard of living in
retirement
- 4.Contributions to registered retirement Benefits schemes are
tax deductible.
12.
- 5 . If you are a member of a retirement Benefits scheme, then
your employer also contributes to the scheme, thus effectively
increasing your gross earnings.
- Investment income earned by registered retirement Benefits
schemes is tax-free.
- If you lose your job your retirement Benefits savings can be an
invaluable nest egg.
- Compound interest: Compound interest accrues on the
contributions received, leading to a faster accumulation of your
fund.
Why SAVE for retirement? (Cont.d) 13. Some Key thoughts How long
have you spent planning the longest holiday of your lifeRETIREMENT?
14. Shortfall Shortfall Income Fortunately your parents pay for
this Who will pay for this? Money Life Line 15. The Graphic story
of 100 young people now aged 25 40 years later at retirement . 49
29 12 5 4 1 Will be rich Will be financiallyindependent Will still
be working Will be broke Will be dead Will be dependent onfriends
and charity 16. Contacts
- Junction of Mara & Ragati Roads
- Visit the British-American Asset Managers Stand at the RBA Open
Day.