The Britam Ngao Umbrella Pension Scheme, managed by Britam Asset Managers (Kenya) Ltd (a subsidiary of Britam Holdings Plc), is a multi-employer retirement benefits scheme designed specifically for small and medium enterprises (SMEs), startups, NGOs, and any registered entity with at least one employee. Launched in July 2024 and fully operational in 2025/2026, it complies with the NSSF Act 2013 and is regulated by the Retirement Benefits Authority (RBA). It holds RBA approval to receive Tier 2 NSSF contributions (Certificate No. RBA/RSC/0219) and is registered with the Kenya Revenue Authority (KRA) for tax exemptions.
This umbrella fund pools contributions from multiple employers, allowing professional management, cost-sharing, and better investment returns without the burden of setting up and running a standalone scheme. It’s ideal for businesses in Kakamega, Nairobi, and across Kenya that want to focus on core operations while providing competitive retirement benefits to attract and retain talent.
About Britam Asset Managers
Britam Asset Managers, established in 2004, is licensed by the Capital Markets Authority (CMA) and RBA. It manages funds regionally (including Uganda since 2017) and is part of Britam Holdings Plc—a NSE-listed group operating in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique, and Malawi—offering insurance, asset management, and retirement solutions.
What is the Britam Ngao Umbrella Pension Scheme?
- A defined contribution provident fund (umbrella/multi-employer) under a single Trust Deed and Rules.
- Sponsored by Britam Asset Managers to eliminate setup hassles for employers.
- Segregated fund allowing employer-specific rules for retirement benefits.
- Registered with RBA and KRA; approved for Tier 2 NSSF contracting out.
Key Benefits of Joining the Ngao Umbrella Scheme
- No setup or joining fees – Join an established scheme.
- Simple onboarding – Fill application, provide member details, set contributions.
- Reduced liability – No fiduciary responsibilities or trustee management for employers.
- NSSF Tier 2 compliance – Contract out Tier 2 contributions (mandatory to NSSF otherwise).
- Focus on business – Delegate retirement management to professionals.
- Cost-effective – Shared professional services (administrator, custodian, trustee) lower costs.
- Better returns – Economies of scale from pooled funds improve investment performance.
- Employee advantages – Enhances loyalty, retention, and attracts talent with secure retirement savings.
Ideal for:
- Registered entities/SMEs with 1+ employees avoiding standalone schemes.
- Smaller existing schemes seeking professional delegation.
- Employers wanting economies of scale and NSSF Tier 2 contracting out.
Compliance with NSSF Act 2013: Tiered Contributions
The NSSF Act requires 6% employer + 6% employee contributions on pensionable earnings, phased in tiers:
- Tier 1 – 6% each (ER/EE) up to Lower Earnings Limit (LEL) → Always paid to NSSF.
- Tier 2 – 6% each on earnings between LEL and Upper Earnings Limit (UEL) → Can be contracted out to approved schemes like Ngao Umbrella.
- Tier 3 – Any amounts above UEL or rates >6% below UEL → Always to registered scheme (e.g., Ngao).
Phased LEL/UEL (as per NSSF rollout):
- Year 1: LEL Ksh 6,000; UEL 50% National Average Earnings
- Year 2: LEL Ksh 7,000; UEL 1x National Average
- Year 3: LEL Ksh 8,000; UEL 2x
- Year 4: LEL Ksh 9,000; UEL 3x
- Year 5+: LEL Statutory minimum wage (currently Ksh 12,000); UEL 4x National Average Earnings
(Note: National Average Earnings gazetted ~Ksh 36,000 in 2013; limits adjust over time.)
Contracting out Tier 2 allows redirection to Ngao for potentially higher returns and professional management.
Sign-Up & Contracting Out Process
- Apply to RBA for approval to remit Tier 2 to Ngao (RBA notifies NSSF).
- Board Resolution – Specify contracting-out date (60 days from application), affected employees, scheme name.
- Notify Employees in writing.
- Undertaking for minimum Tier 2 payments.
- Complete C1 Form (Application for Contracting Out).
- Administrator collates documents; RBA issues certificate with effective date.
- Remit Tier 2 to Ngao; if prior payments to NSSF, request transfer with interest.
Contact Britam for Ngao Umbrella Pension Scheme
- Phone: 0705 100 100
- Email: bampensiondepartment@britam.com
- Website: ke.britam.com (download brochure/forms)
- Social: @BritamGroup / BritamEA
The Ngao Umbrella Pension Scheme (updated as of 2025/2026) remains a top choice for Kenyan businesses seeking hassle-free, compliant retirement planning. For personalized quotes, application forms, or to check latest LEL/UEL limits, contact Britam directly. Secure your employees’ future today—join the Ngao Umbrella!
