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MMUST Staff Retirement Benefits Scheme Conducts Pre-retirement Planning Seminar for Its Staff

Masinde Muliro University of Science and Technology (MMUST), Staff Retirement Benefits Scheme on 21st and 22nd October 2022, conducted a pre-retirement planning seminar for its staff approaching retirement. This two-day training which was held at the Kakamega Sports Club was steered by consultants from the Retirement Benefits Authority (RBA). The consultants included Ms. Agnes Mwenda, Ms. Christine Onyango, Mr. Julius Were, Mr. Vincent Ogutu, Mr. David Letio, and Mr. Benson Odongo.

Speaking during the event, Ms. Agnes Mwenda pointed out that the aim of the training was to provide participants with necessary psycho-social counseling, to enable them to have a positive attitude towards their impending retirement. Further, the skills acquired will assist them to adopt new lifestyles including managing social and family life effectively before and after leaving employment.

image7656600Ms. Agnes Mwenda stressing a point during her presentation.

The Ag. Registrar, Human Resources, Dr. Eglay Tsuma noted that it is in order to prepare staff psychologically for their retirement for a smooth transition. She added that the University will continue to organize similar programs until all members go through this critical training.

“This is a pre-retirement training program organized by the board of trustees of MMUST in collaboration with RBA. Its main objective is to prepare members for retirement in terms of financial management and social preparedness,” she added.

The RBA Assistant Director- Market Conduct, Ms. Christine Onyango assured participants at the training were assured that the MMUST Scheme is well managed and that it would support those due for retirement.

“No matter how much you want to keep working for your entire life, it is important for you to save for your retirement. Having that money handy prepares you in case you retire earlier than anticipated,” she said.

aganooduringraidAg. Registrar, Human Resource Dr. Eglay Tsuma (second from right) and other participants during the training.

Stressing the importance of such training, the Chairperson of the Board of Trustees, Mr. Josephat Shigogodi noted that they have not had such training since COVID -19 struck.

“This is part of the mandate of the Scheme to prepare staff to plan for their retirement. We will have segmented training targeting different categories of staff depending on their demographics,” stated Mr. Shigogodi.

mmusASDVERSA section of the seminar participants.

Some of the topics covered during the seminar included, ‘Attitude to new lifestyle in retirement, ‘Stress and time management, ‘Overview of retirement benefits scheme’, ‘Investment and personal financial management, and ‘Psychological health issues in retirement.’

Retirement is one of the most significant changes a person will face in their lifetime. It is clear that even though this is a key stage for a majority of people, it’s still an area that many of us are ill-prepared for and ill-informed about. MMUST seminars for the employees who are due for retirement effectively inform and prepare them for the future.

By Linet Owuor

Photos by Wilberforce Shiundu

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