DIASPORA Product
Kenyans in the Diaspora
The DIASPORA Retirement and saving Plan/product is a voluntary savings and retirement scheme option, specially designed for discerning Kenyans in the Diaspora. It is an individual pension plan agreement between the willing member and LAPFUND.
The aim of this product is to ensure inclusivity of the niche the diaspora market and to offer Kenyans in the diaspora an avenue for diversification of their investment portfolio. This product, while allowing one to secure their future, also enables a contributor to save towards a particular goal
The contributor will earn interest above market rates and inflation, while at the same time being secure in the knowledge that the contributions are safe due to the prudent nature of investments undertaken.
What do i need to Join this Product?
- A fully completed LAPFUND Admission Form Diaspora (LAPF/ D1).
- A copy of Kenyan Identity Card or Passport.
Alternatively;
- You can join using our online form
Additional Features/ Benefits:
- Recommended minimum monthly contribution of USD $100. Payments can be done either monthly, quarterly, bi-annually or annually
- Interest declared annually is calculated on a monthly pro-rated basis
- Increase benefits of saving for a longer period due to the compounding nature of declared interest
- Quarterly statements issued via email or as per request. Real time statements can also be accessed online at www.lapfund.or.ke
- Benefits will be paid within 5 working days of claiming through bank transfer.
- Members are also able to gain from the financial training sessions that are offered regularly
- Survivors benefit: On death of a member, the nominated beneficiaries receive full payments of the member's total benefit equivalent to the total fund value in his or her account consisting of member contribution and interest accrued over the period of membership
- Pension Backed Mortgage: Members can use accumulated benefit (up to 60%) as collateral to secure a mortgage loan to own a home while at the same time saving towards a secured retirement
- Members can access online services Members Portal including
- Statements
- Bio Data information
- Enquiries/ Complaints
- Ease of communicating with us directly through diaspora@lapfund.or.ke. We aim to respond within hours but it can take up to two(2) working days depending on volumes
- Interest earned will be subject to Kenyan taxation rules and regulations
Membership
Vision & Mission
Vision: The preferred savings and retirement benefits provider.
Mission: To receive, prudently invest and manage members’ savings for prompt payment of benefits for secured retirement.
CORE VALUES:IntegrityProfessionalismTeamworkCustomer FocusContinuous Improvement
