Britam formally introduced its long-awaited Britam Trust Services on Wednesday, June 17, giving Kenyans a way to shape, pass on, and safeguard wealth across generations.
Through the new offering, Britam is providing Kenyans with an avenue to manage assets via the Britam Cash Trust and Britam Family Trust, also known as the Britam Private Trust.
A trust is a legal arrangement that enables assets to be administered for beneficiaries, supporting wealth preservation, protection of loved ones, and transfer of property according to the owner’s wishes.
At the launch, Britam Trust Manager Susan Mathenge said the Britam Cash Trust allows funds to be earmarked for specific needs of a selected beneficiary, including education, healthcare, and daily support.
The Britam Family Trust, meanwhile, covers a broader range of assets, including property, investments, businesses, and cash.
“Our role is to help our customers protect what they have worked hard to build, preserve it with intention, and pass it on with clarity and purpose,” said Britam Group Managing Director and CEO Tom Gitogo.
Mathenge said Britam Trust Services are designed to offer a structured way for individuals and families to manage assets in line with their wishes during their lifetime and thereafter.
The service also helps organisations manage employee benefits efficiently and professionally, including pensions and group life cover payable to beneficiaries under 18 after an employee’s death.
“As Britam, we don’t tell you these are the terms and conditions. You come and tell us this is what I want my trust to do, and we create something unique for each individual,” Mathenge explained.
Britam said individuals can begin with as little as Ksh5,000 and build their fund gradually under the Britam Cash Trust. They can add any amount at any time.
They can also make a one-time deposit of Ksh50,000 into the fund, which offers an annual return of more than 13 per cent.
“A trust is not just for the rich people. It is for all of us,” said Moses Kang’ethe, Acting CEO and Principal Officer, Britam Life Assurance.
With a trust, individuals can avoid lengthy and complicated legal disputes over property and keep hard-earned wealth from being transferred to the Unclaimed Financial Assets Authority (UFAA).