As Kenyans plan for their future, Individual Pension Plans (IPPs) have become a popular retirement savings solution. Unlike employer-sponsored pension schemes, IPPs offer flexibility for individuals to contribute toward their retirement on their own terms. These plans offer a range of investment options, tax advantages, and are regulated by the Retirement Benefits Authority (RBA), ensuring safety and transparency for the contributors.
In this article, we will explore the full list of registered Individual Pension Plans (IPPs) in Kenya, along with a brief overview of what makes IPPs an ideal choice for retirement savings.
Why Choose an Individual Pension Plan (IPP)?
Individual Pension Plans (IPPs) are personal savings vehicles that allow individuals to accumulate funds for their retirement. These plans offer several key benefits:
- Flexibility: You can choose how much to contribute, and some plans allow you to make lump-sum contributions.
- Tax Benefits: Contributions to IPPs are tax-deductible, offering an immediate advantage to savers.
- Investment Options: Most plans allow you to choose from various investment portfolios based on your risk tolerance.
- Portability: Since these plans are independent of your employer, you can continue saving even if you change jobs or become self-employed.
The Retirement Benefits Authority (RBA) regulates IPPs in Kenya, ensuring that all pension providers meet strict criteria to safeguard your investments.
List of Registered Individual Pension Plans (IPP) in Kenya
Here is a comprehensive list of registered IPPs available in Kenya. These pension plans cater to different needs, from entrepreneurs to employed individuals and even diaspora Kenyans.
- Amana Personal Pension Plan
- Amana Capital provides flexible pension solutions with diversified investment options.
- APA Life Assurance Ltd Individual Retirements Benefit Scheme
- APA Life offers personalized retirement plans with tax advantages and competitive returns.
- Blue MSMEs Juakali Individual Retirement Benefits Scheme (Mbao Pension Plan)
- Known as the “Mbao Pension Plan,” this scheme is designed for informal sector workers, including MSMEs and jua kali workers.
- British American Personal Pension Plan
- Britam provides robust pension plans with a variety of investment choices to suit different financial goals.
- Liberty Life Pension Plan
- Liberty Life is a leading provider offering pension solutions with a strong focus on financial security and wealth growth.
- Chancery Personal Pension Plan
- A comprehensive pension plan designed for individuals seeking financial independence in retirement.
- CIC Jipange Personal Pension Plan
- CIC Group’s Jipange Pension Plan allows individuals to grow their savings for retirement in a secure environment.
- NCBA Individual Pension Plan
- NCBA’s pension plan offers individuals a chance to save for retirement with an array of flexible and customizable investment options.
- CPF Individual Pension Scheme
- CPF Financial Services provides a range of retirement savings options, with both individual and group plans available.
- Dry Associates Personal Provident Plan
- Dry Associates delivers a high-level pension plan focused on long-term investment growth.
- Enwealth Diaspora & Expatriates Retirement Fund
- Enwealth’s Diaspora & Expatriates plan caters to Kenyans living abroad, allowing them to save for their future in Kenya.
- Enwealth Personal Pension Scheme
- A leading retirement plan tailored to meet the needs of individuals across Kenya.
- GA Personal Provident Plan
- GA Insurance offers personal provident plans to help individuals secure their retirement savings.
- GA Life Personal Pension Plan
- A pension plan from GA Life Assurance, ensuring financial stability in retirement.
- ICEA Lion Individual Retirement Benefit Scheme
- ICEA Lion offers one of the most trusted pension plans, providing diverse investment options and retirement security.
- Jubilee Insurance Company Ltd. Personal Pension Plan
- Jubilee’s pension plan is designed for individuals looking to accumulate retirement savings in a well-regulated scheme.
- Kenindia Assurance Co. Ltd Personal Pension Plan
- Kenindia’s pension plan focuses on providing individuals with secure retirement income streams.
- Kenyan Alliance Insurance Co. Ltd Individual Retirement Benefits Scheme
- This plan offers flexibility and competitive returns, allowing individuals to save for retirement at their own pace.
- MAFAO Fund
- MAFAO Fund provides structured and reliable pension savings plans for individuals.
- Madison Life Assurance Personal Pension Plan
- Madison Life ensures its clients are equipped with personalized retirement savings solutions.
- Mercantile Personal Provident Pension
- A plan that combines flexible contributions with diverse investment options.
- Minet Individual Pension Plan
- Minet offers a robust pension plan that helps individuals grow their retirement savings in a safe and regulated environment.
- Mwavuli Individual Pension Plan
- A flexible pension plan that allows individuals to save and grow their funds for future retirement needs.
- NTISL Personal Pension Plan
- The NTISL pension plan offers a range of retirement savings options tailored to individual requirements.
- The Heritage All Company Ltd Individual Retirement Benefit Scheme
- Heritage offers a well-structured pension scheme, ensuring individuals are well-prepared for retirement.
- The Kenya Orient Individual Pension Plan
- Kenya Orient’s pension plan provides individuals with a secure retirement savings strategy.
- The Monarch Personal Pension Plan
- Monarch offers a pension plan that helps individuals plan for a stable and fulfilling retirement.
- Octagon Personal Pension Scheme
- Octagon Africa provides a comprehensive pension plan with investment flexibility for individuals.
- Old Mutual Individual Retirement Benefits Scheme
- Old Mutual’s pension plan provides individuals with investment options that match their retirement goals.
- Sanlam Life Personal Pension Plan
- Sanlam offers a high-quality pension plan that ensures financial security in retirement.
- Pioneer Assurance Individual Retirements Benefits Scheme
- Pioneer’s pension plan allows individuals to save consistently for a secure retirement.
- Stanlib Individual Pension Plan
- Stanlib’s pension plan provides flexible retirement savings with access to a wide array of investment funds.
- UAP Life Assurance Individual Retirements Plan
- UAP Old Mutual delivers personalized retirement solutions through its individual pension plan.
- Zamara Vuna Pension Plan
- Zamara offers a comprehensive pension plan designed to help individuals grow their retirement wealth.
- Zimele Personal Pension Plan
- Zimele’s pension plan is tailored to individual needs, offering a flexible and tax-efficient way to save for retirement.
- National Social Security Fund (NSSF)
- Kenya’s government-backed social security fund that provides basic pension coverage for employed individuals.
- Gencap Individual Pension Plan
- Gencap offers a versatile pension plan designed for self-employed professionals and entrepreneurs.
- Wakili Personal Retirement Benefits Scheme
- A retirement plan specifically tailored to meet the needs of legal professionals in Kenya.
- Prudential Individual Retirement Benefits Scheme
- Prudential offers a well-established pension scheme with a strong track record of helping individuals plan for retirement.
- Benefits At Work Personal Pension Scheme
- A highly flexible pension scheme designed to cater to individual savers across diverse sectors.
- CFC Life Individual Pension Plan
- CFC Life provides personalized pension plans with a focus on sustainable investments.
- Cytonn Personal Retirement Benefits Scheme
- Cytonn’s pension scheme offers robust savings options with access to high-growth investment portfolios.
- Fahari Retirement Plan
- Fahari provides innovative pension solutions that cater to the needs of Kenyan individuals saving for retirement.
- Jubilee Life Personal Provident Fund
- A retirement solution that combines security with flexibility in savings.
- KUSCCO Mutual Individual Retirement Benefits Scheme
- This pension plan is ideal for members of cooperative societies looking for personal retirement savings options.
- Boresha Maisha Individual Pension Plan
- A pension plan aimed at providing individuals with flexible, long-term savings options.
- Mwanariadha Pension Plan
- A tailored pension plan for Kenyan athletes, helping them secure their financial future.
- Equity Individual Savings and Retirement Plan
- Equity Bank provides an accessible pension plan with savings and investment options for individuals.
- Kenya National Entrepreneurs Savings Trust (KNEST) Pension Scheme
- This pension plan is designed to cater to entrepreneurs, providing them with secure retirement savings.
Contact the Retirement Benefits Authority
For more information on pension plans and retirement benefits, you can contact the Retirement Benefits Authority at:
- Address: Rahimtulla Tower, 13th Floor, Upper Hill Road, Opposite UK High Commission
- Phone: 020 280 9000
- Toll-Free: 0800720300 (Safaricom)
Individual Pension Plans (IPPs) in Kenya offer an excellent way for individuals to save for retirement, whether they are employed, self-employed, or working in the informal sector. With a variety of registered IPPs to choose from, there is a plan for everyone’s financial needs and retirement goals. Through the oversight of the Retirement Benefits Authority (RBA), contributors can rest assured that their investments are secure, and their future financial well-being is prioritized.
