Since its inception, ARBS has witnessed a gradual increase to the current membership status. This increase in membership is largely attributed to the association’s zeal to represent its members concerns at all levels. Other than this, members are empowered to manage their retirement benefits schemes better through educational seminars, workshops and luncheons organized by the ARBS. These events are usually held on a quarterly basis, but can also be held outside this timetable if the need arises.
ARBS has maintained the annual membership fee at a very low cost of only Ksh.25,000. This is because as the association, we understand that retirement benefits schemes deal with members’ pensions and that maintaining the membership fee that low passes the low administrative costs to the schemes.
Membership is not only limited to retirement benefits schemes but is also open to sponsors, custodians, administrators, fund managers and any other professionals in the retirement benefits industry.
Through membership of ARBS, scheme trustees and sponsors have an opportunity to be represented in forums that shape and influence policy. In this respect, ARBS has been involved in making written and oral presentations to the Government of Kenya Budget team on matters affecting retirement benefits schemes.
Much of the Association’s efforts so far have been directed to addressing issues which affect the entire retirement benefits industry, particularly through representations to the Retirement Benefits Authority and the Kenya Revenue Authority. There have been some successes, notably in the development of the RBA Regulations, but there is still much to be done. While this will continue to be an important activity, the ARBS is now turning more of its attention to supporting members in their dealings with the regulators etc. ARBS organizes periodical, usually quarterly, seminars and luncheon meetings at which key speakers elaborate on current and topical retirement benefits issues. Through these forums the trustees and sponsors are equipped to execute their responsibilities as trustees. These forums also provide opportunities for members to exchange views and experiences with fellow members.