UFULU UNRESTRICTED FUND

The unrestricted fund is a pooled retirement plan for individuals, self-employed and employer sponsored members

Who can Join?

Everyone, either before retirement or after retirement.

  • Member can defer retirement / annuity and invest in the Fund.
  • Member can combine other investment income for retirement-business / other savings.

Who can Join?

Everyone, either before retirement or after retirement.

  • Member can defer retirement / annuity and invest in the Fund.
  • Member can combine other investment income for retirement-business / other savings.

How it Works

  • Funds are invested in a pooled fund – NICO Asset Managers
  • Earn investment Returns

Member able to:

  • Access Fund information on the online Portal
  • Receive annual statements

How your funds are invested in order to earn a competitive return

  • Equities – Listed and unlisted
  • Property – Chichiri Shopping Mall, Kang’ombe Building, NICO Centre etc – Now most of these form part of ICON Properties plc
  • Government Securities
  • Corporate Bonds
  • Loans
  • Term Deposits

The investment thresholds are capped depending on guidelines

Access to Funds

As a retirement Package, 50% (Lumpsum) and 50% annuity or threshold (Full commutation)
Under section 88 – 3 months of no income.

Past Bonus Performance

Our declared bonuses are FULLY VESTED.

  • The return on investments are allocated to member accounts immediately and will not be taken back under any circumstance.
  • This opposed to non-vesting bonuses which even when allocated only become fully vested over time, usually ten years and can be withdrawn by insurer in bad economic periods
Year Ending 31st December Total Bonus Credited (%) (Net of all Taxes)
31 December 2011 12.5%
31 December 2012 20%
31 December 2013 60%
31 December 2014 20%
31 December 2015 15%
31 December 2016 15.5%
31 December 2017 18%
31 December 2018 16%
31 December 2019 12.16%
31 December 2020 9.37%
31 December 2021 14%
31 December 2022 11%