Defined Benefit
This is a pension scheme which is usually for staff on permanent and pensionable conditions of service. The pension package is defined using a specified formula used to calculate the pension at retirement. In this Scheme, the retirement package is based on your salary and the number of years you have contributed to the scheme.
This scheme however, has been closed to new entrants/signings and is currently dedicated to serve the existing scheme members who joined before it was closed off.
Further information
The scheme has the following benefits;
- Life Pension
- Tax free lump sum package
- Pension payable to the widow/er, children of the deceased member
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Mukuba Pension Trust
Pensions
Kitwe
Mukuba Pension Trust offers two pension schemes including Defined Contribution (DC) and Defined Benefit (DB). These schemes ensure that the preference of both employee and employer are accommodated. The flexibility in the contribution rates for DC Scheme has the advantage of meeting the employer and employee budgets.
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