Retirement savings

This is a member pension account specially designed to encourage a savings culture amongst members and to enable one plan for their retirement. 
Each member automatically holds this account on registration.


  • Minimum savings is 5% of net pay
  • Mandatory to all full members
  • Competitive interest rate of 10% computed quarterly, based on average period balance
  • Funds are only accessed by the member after retirement.  
  • Earns Savers' bonus at the end of the year.
  • No Minimum balance is required
  • Members make periodical remittances to the individual accounts. 


  • Offers safe savings options as members plan for their retirement
  • Not encumbered with any Loans and members continue to save even when with running loans
  • Accumulated interest forms part of the savings balance.
  • Savings are conveniently accumulated through payroll deductions and direct banking.
  • Balances and statements provided quarterly and on member request 
  • Allows for payments directly to third parties, under special circumstances if arranged


  • Equivalent to application of membership.
  • Minimum savings is 5% of net pay
  • Notice of 6 months to be provided on plan of retirement.   During the 6 months, the member and SACCO negotiate a retirement benefit package.