Maseno University Retirement Benefits Scheme (MURBS) is a pension plan for employees of Maseno University and Tom Mboya University (TMU). It is a defined contribution scheme with 1,320 members and AUM of KES 4.6 billion at the end of 2023. MURBS is approved by the Kenya Revenue Authority as exempt under the Income Tax Act (Cap 470) and fully compliant with the Retirement Benefits Act.

MURBS was established in 1990 as a “defined benefits plan”. In 2004, the Scheme converted into a “hybrid scheme” - a defined contribution plan with a defined benefit underpin. In 2015, the Scheme was converted to a “fully defined” contribution scheme.

MURBS is governed by a Trust Deed and Rules registered with the Retirement Benefit Authority. The university contributes 20% of the member’s basic salary and the employee contributes 10% of their basic salary. The university further contributes 2.5% of the member’s basic salary towards “death-in service” insurance benefits

WHAT WE OFFER

Maseno University Retirement Benefits Scheme offers a dynamic pool of products around in the pension industry including:.

• Defined Contributions Scheme.
• Trust Fund Scheme.
• Post-Retirement Medical Scheme.
• NSSF Tier II Contribution Scheme

We are committed to providing quality retirement benefits to all our members.