Pensions play a pivotal role in ensuring financial security in retirement, which is why it’s important to partner with the right pension administrator. In Kenya, the Retirement Benefits Authority (RBA) regulates and supervises pension schemes to safeguard the interests of pension scheme members. With a plethora of pension administrators available, it’s crucial to know the registered and approved ones to help you make informed decisions about your retirement plans.
In this comprehensive guide, we’ll walk you through some of the RBA-approved pension administrators in Kenya. Whether you’re looking to start a pension scheme or considering switching providers, this list will serve as an invaluable resource.
What is a Pension Administrator?
A pension administrator is a professional body or company responsible for overseeing, managing, and administering pension plans. Their primary duties include the management of pension funds, ensuring the proper investment of funds, and maintaining accurate records of contributors.
In Kenya, the Retirement Benefits Authority (RBA) provides a list of approved pension administrators, ensuring that they comply with the legal frameworks in place to protect pension members. These administrators also work to promote retirement benefits schemes and advise the government on related policies.
Role of the Retirement Benefits Authority (RBA)
The Retirement Benefits Authority (RBA) is a regulatory body that supervises the establishment and management of pension schemes in Kenya. Its mandate includes:
- Regulating and monitoring pension administrators.
- Ensuring that pension schemes adhere to legal requirements.
- Promoting retirement benefits schemes and enhancing the sector’s development.
- Protecting the interests of pension scheme members.
To facilitate effective pension administration, the RBA has approved a list of administrators who comply with the regulations set out to ensure transparency, safety, and growth of pension funds.
List of Approved Pension Administrators in Kenya
Here’s a comprehensive list of pension administrators approved by the Retirement Benefits Authority (RBA). These companies provide reliable pension management services and are trusted by both individual contributors and businesses across Kenya:
1. APA Life Assurance Limited
- Contacts: 020 2862000
- Location: Apollo Centre, Ring Road, Westlands
2. Benefits At Work Limited
- Contacts: +254 700 688 248 | +254 780 486 273
- Location: 3rd Floor, Suite 12D, Vision Plaza, Mombasa Road
3. Britam Life Assurance Company Kenya Limited
- Phone: +254 703 094000
- Location: British American Centre, Upper Hill
4. Chancery Wright Insurance Brokers Limited
- Phone: +254 722 209 547 / 0736 381 707
- Location: Crawford Park, State House Road
5. CIC Life Assurance Limited
- Phone: +254 703 099 120/122/124
- Location: CIC Plaza, Mara Road
6. CPF Financial Services Limited
- Phone: +254 720 433 354
- Location: 6th Floor, CPF House, Haile Selassie Avenue
7. Eagle Africa Insurance Brokers Kenya Limited
- Phone: +254 722 201 238
- Location: Longonot Road, Upper Hill
8. Financial Services Limited
- Phone: 0788 617443
- Location: 1st Floor, Suite D2, Morningside Office Park, Ngong Road
9. ITSL Trust Company Limited
- Phone: 020 2750999
- Location: ICEA Lion Centre, 4th Floor, Riverside Park, Chiromo Road
10. Kenindia Assurance Company Limited
- Phone: 020 2218380
- Location: Kenindia Assurance, Loita Street
11. Kenya Orient Life Assurance Limited
- Phone: 020 2962000
- Location: Capitol Hill Towers, Cathedral Road
12. Kingsland Court Benefits Services Limited
- Phone: 0720 212314
- Location: Taj Towers, Upper Hill
13. Liaison Financial Services Limited
- Phone: +254703 071 000
- Location: Liaison House, Statehouse Avenue
14. Liberty Life Assurance Kenya Limited
- Phone: 0711 076222
- Location: Liberty House, Mamlaka Road
15. Madison Insurance Company Kenya Limited
- Phone: 020 2721970
- Location: Madison Insurance House, Upper Hill
16. Minet Kenya Financial Services Limited
- Phone: +254 071 904 4000
- Location: Minet House, off Nyerere Road
17. Octagon Pension Services Limited
- Phone: 0772 627243
- Location: 3rd Floor, Westpark Suites, Ojijo Road, Parklands
18. Pacific Insurance Brokers (EA) Limited
- Phone: 0722 204478
- Location: Rose Avenue, off Denis Pritt
19. Pioneer Assurance Company Limited
- Phone: 020 7220000
- Location: Pioneer House, Moi Avenue
20. Roberts Insurance Brokers Limited
- Phone: 020 2464558
- Location: 1st Floor, Top Plaza, Kindaruma Road
21. Saham Assurance Company Kenya Limited
- Phone: 020 2215528
- Location: 16th Floor, Ecobank Towers, Muindi Street
22. Sanlam Life Insurance Limited
- Phone: 020 2781000
- Location: Pan Africa House, Kenyatta Avenue
23. Sapon Insurance Brokers Limited
- Phone: 020 607324
- Location: 2nd Floor, West End Place, Off Langata/Mbagathi Round About
24. Sedgwick Kenya Insurance Brokers Ltd.
- Phone: 020 2913000
- Location: ZEP Re Place, Longonot Rd, Upper Hill
25. Takaful Insurance of Africa Limited
- Phone: 020 2725134
- Location: CIC Plaza, Mara Road, Upper Hill
26. The Jubilee Insurance Company of Kenya Limited
- Phone: 0709 949000
- Location: Jubilee Insurance House, Wabera Street
27. The Kenyan Alliance Insurance Company Limited
- Phone: 020 2241626
- Location: Chester House, Koinange Street
28. The Monarch Insurance Company Limited
- Phone: 020 310032
- Location: Prudential Assurance Building, Wabera Street
29. UAP Life Assurance Limited
- Phone: +254 711 065 000
- Location: Bishops Garden Towers, Bishops Road
30. Zamara Actuaries Administrators & Consultants Limited
- Phone: 020 4969000
- Location: Landmark Plaza, Argwings Kodhek Road
31. Zimele Asset Management Company Limited
- Phone: 0722 207662
- Location: ECO Bank Towers, Muindi Mbingu Street
Key Considerations When Choosing a Pension Administrator
Selecting a pension administrator is a significant decision that affects your retirement future. Here are some key factors to consider when choosing a pension administrator:
- Reputation and Trustworthiness: Ensure the administrator has a strong track record of managing pension funds with transparency and accountability.
- Fees and Charges: Different pension administrators may have varying fee structures. Always inquire about any hidden fees before committing to an administrator.
- Investment Options: Some administrators provide a wide range of investment options that can grow your pension fund. Look for administrators who offer diversified, risk-managed portfolios.
- Customer Support: Good customer service is essential. Check if the administrator provides efficient and responsive customer support channels.
Why It’s Important to Choose the Right Pension Administrator
Choosing a reputable and experienced pension administrator ensures that your retirement funds are well-managed and secure. With the right administrator, you can expect regular updates on your fund performance, access to reliable information, and more investment options to grow your wealth. Plus, knowing that your pension fund is being managed by professionals adds peace of mind as you approach retirement age.
Now that you know the list of approved pension administrators in Kenya, it’s time to make an informed choice to secure your future. Whether you’re saving for retirement or looking to switch pension administrators, partnering with the right provider is essential for long-term financial success.
For the best results, reach out to one of the administrators listed above to discuss your pension options. Don’t wait – plan for a comfortable and secure retirement today!
If you’re ready to start planning for your retirement, contact any of the approved pension administrators listed above to learn more about your options. Secure your financial future with the right pension provider today!