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to non-vesting bonuses which even when allocated only become fully vested over time, usually ten years and can be withdrawn by insurer in bad economic periods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% |