List of pension schemes in Kenya where you can save for retirement

Looking for a list of pension schemes in Kenya? Find it in this guide (plus their contacts)…..

Pension schemes are a type of investment vehicle that pays you during your retirement.

That way, you’re sure of a decent lifestyle and peace of mind in old age.

Sadly, many Kenyans don’t realize the importance of investing in a pension plan and end up living a miserable life when old age comes knocking.

Now, if you want to secure your future by investing part of your income in one of the registered pension schemes in Kenya, here is a list of pension schemes in Kenya that can help you save for retirement.

List of pension schemes in Kenya registered under the retirement benefits act Kenya

The following are among the best pension schemes in Kenya and can help you save for your basic needs and other expenses in old age.

1. Britam Pension Scheme

Britam offers two kinds of individual pension schemes:

  • Pension plan –You receive 1/3 of your accumulated benefits as a lump-sum amount once upon attaining retirement age while the remaining 2/3rds will be paid to you as a regular payment for life (upon retirement). Note that you can withdraw from this fund after contributing for at least 10 years.
  • Provident plan –The accumulated sum is paid as one lump-sum upon retirement.

Britam pension scheme contacts: 0703 094000


2. Boresha Maisha Retirement Plan (formerly CFC life individual pension plan)

Run by Liberty Insurance company, Boresha Maisha Retirement scheme lets you plan for your retirement by providing flexible contributions to match your income.

Note that CFC Life rebranded to Liberty Life Assurance-Kenya Ltd. in October 2014

Contact: 0711 076 222


3. Mbao pension scheme Kenya

Started in 2009, this is perhaps the friendliest scheme allowing pension contribution in Kenya for those in the Jua kali sector.

As the name suggests, you contribute just Kshs.20 daily and you can register as long as you are above 18 years.

Those contributing monthly should remit Kshs 500/= (minimum) per month while those contributing annually should contribute Kshs 6,000/= (minimum) per year.

The scheme is owned by Kenya Commercial Bank (KCB) and is administered by Eagle Africa Insurance Broker’s.

Contact: Dial *805*40# (on your phone) for enquiries.


4.  Jubilee Kenya Personal Pension Plan

Here are the key benefits of Jubilee Kenya insurance pension scheme:

  • No setup fee
  • Tax relief benefit
  • Minimum guaranteed investment return rate of 4%
  • Guaranteed investment income and accumulated capital.

Contact: Use this form to send your questions.


5. KCB pension scheme

KCB also runs individual schemes that allow you to contribute funds towards retirement.

KCB allows even a single lump-sum deposit into the scheme in case you want to boost your savings.

Contact: Fill this form to have a KCB representative contact you.


6. Zimele Personal Pension Plan

Zimele Personal Pension Plan can be amazing for Kenyans who have years of active service remaining before attaining retirement age since they can make the most out of the remaining time to accumulate excellent returns.


  • Affordability: Minimum deposit is just Kshs.100 only.
  • Flexibility: You can add or reduce the amounts you contribute and even the frequency of contributions.
  • Convenience: You can pay through Mpesa Business no. 501100.
  • No penalties: There are no penalties for not remitting contributions for some time.
  • Online access: You get your pension contribution statement online.

The Plan is best for:

  • Self-employed Kenyans·
  • Young people seeking to leverage the stocks market to increase their retirement kitty.

Contact: Visit Zimele Asset Managers online via this link.

List of pension schemes in Kenya -Other pension schemes in Kenya

Amana Personal Pension Plan 313356
Apollo Insurance Co. Ltd. Individual Pension Arrangement 223562
Benefits At Work Personal Pension Scheme 0700688248
Chancery Personal Pension Plan 2711555
CIC Jipange Pension Plan 2823000
Commercial Bank of Africa Individual Pension Plan 2884000
CPF Individual Pension Scheme 2248408
Cytonn Personal Retirement Benefits Scheme 0709 101000
Dry Associates Personal Provident Plan 4450520
Enwealth Diaspora & Expatriates Retirement Fund 8160312
Enwealth Personal Pension Scheme 8160312
Fahari Retirement Plan 4969000
GA Life Personal Provident Plan 271633
GA Life Personal Pension Plan 271633
Gencap Individual Pension Plan 0709185000 clientrelations@genghis-capital,com
ICEA Lion Individual Retirement Benefits Scheme 221652
Kenindia Assurance Co. Ltd. Personal Pension Plan 316099
Kenyan Alliance Insurance Co.Ltd. Individual Retirement Benefits Scheme 241626
Madison Insurance Personal Pension Plan 2721970
Mafao Fund 703071000
Mercantile Personal Provident Fund Scheme 2243681
Minet Individual Pension Plan 4974000
Mwavuli Individual Pension Plan 2220099
NTISL Personal Pension Plan 2828356
The Heritage AII Company Ltd. Individual Retirement Benefits Scheme 3749118
The Kenya Orient Individual Pension Plan 2728603
The Monarch Personal Pension Plan 310048
Octagon Personal Pension Scheme 0708726830/

Old Mutual Individual Retirement Benefits Scheme 2829000 m
Pan Africa Life Personal Pension Plan 247600
Pioneer Assurance Individual Retirement Benefits Scheme 2220814
Stanlib Individual Pension Plan 3268508
UAP Life Assurance Individual Retirement Benefits Plan 2850000
Wakili Personal Retirement Benefits Scheme 0709 087000
Zamara Vuna Pension Plan 4969000


A word on umbrella pension scheme

These schemes are set up by authorized companies to help small or medium businesses who find running their own individual schemes for their employees financially unviable.

Their goal is to have these companies pool resources and provide a retirements benefits scheme for their employees in a cost effective manner.

If you own such a company, consider these umbrella pension plans in Kenya (they are all registered under RBA pension rules):

No. Umbrella Scheme Telephone No.
1 Amana Umbrella Pension Scheme 313356
2 APA Life Umbrella Retirement Fund 3641000
3 British American Insurance Umbrella Retirement Fund 2710927
4 CFC Life Assurance Ltd Umbrella Fund 2866000
5 CIC Umbrella Retirement Benefits Scheme 2823000



CICAM Umbrella Retirement Fund


0703 099132

7 Co-optrust Investment Retirement Benefits Scheme 070 3071000
8 County Pension Fund 2046901
9 Cytonn Umbrella Retirement Benefits Scheme 0709 101000
10 Enwealth Umbrella Fund 020-8160312
11 Fusion Umbrella Retirement Benefits Scheme 27101149
12 ICEALION Umbrella Retirement Benefits Scheme 2750000
13 ICEALION Guaranteed Umbrella Fund 2750000
14 Kenindia Umbrella Provident Fund 3310699
15 Kenya Orient Umbrella Pension Fund 2728603
16 Kivuli Umbrella Fund 2323343
17 Madison Umbrella Retirement Benefits Scheme 2864000
18 Minet Kenya Umbrella Retirement Fund (AON umbrella retirement fund) 4975000
19 Mwavuli Pension Fund 2220099
20 Ngao Umbrella Pension Scheme 2710927
21 Octagon Umbrella Retirement Benefits Scheme 6001948
22 Old Mutual Umbrella Retirement Benefits Scheme 2728881
23 Sanlam Umbrella Retirement Fund 2781000
24 Pioneer Umbrella Retirement Fund 2220814
25 Suluhu Umbrella Scheme 2717137
26 Takaful Umbrella Fund 2725134
27 The Jubilee Insurance Umbrella Scheme 3281000


The Kenyan Alliance Insurance Company Limited

Umbrella Fund



29 The Monarch Umbrella Retirement Fund 310032
30 UAP Umbrella Retirement Benefits Scheme 2850000
31 Zamara Fanaka Retirement Fund (Provident & Pension Sections) 4969000


List of pension schemes in Kenya – frequently asked questions (FAQs)

What is an individual pension plan?

An Individual pension scheme is nothing else but a saving plan usually set-up by registered providers such as insurance companies for you to make regular contributions on your own behalf as a way of saving for your retirement.

What is a registered pension scheme (registered pension scheme meaning)?

A registered pension scheme is a form of trust that releases pension benefits to an employee upon retirement. …

Most RPPs (including public service pension funds) in Kenya are managed by registered administrators and are subject to various legislations as specified in the retirements benefit authority act.

Keep in mind that there are both registered and unregistered pension schemes-An unregistered scheme does not allow you, sponsoring employers, or even scheme administrators to benefit from any tax privileges available to registered schemes such as pension contribution tax relief.

Who offers the best pension rate of return in Kenya?

Rates vary from year to year so it’s not easy to accurately say pension scheme X has the best rates on a year-to-year basis.

What are the pension withdrawal rules in Kenya?

Access to your retirement savings is mainly regulated under two acts: Kenya’s Income Tax Act plus the RBA Act.

The conditions for withdrawal differ from one company to the next but in general, you are allowed to withdraw your pension savings once you’re 50 years old.

The other option is, of course, to wait and let your savings continue growing until you reach the official retirement age (60 years, at the moment).

PS: Like us on Facebook for more informative pieces. Just click here.


Best investment companies in Kenya and opportunities offered


Share with a friend

Leave a Comment