Are you looking for the best pension funds in Kenya? Pension funds are an important element of retirement planning, providing an additional source of income when you retire. In Kenya, the pension sector has seen tremendous growth over the last decade with a variety of different funds available.
1. National Social Security Fund (NSSF)
The National Social Security Fund (NSSF), established in 1966, is the country’s largest pension fund. It provides benefits to both members and employers, including retirement benefits, disability benefits, death benefits, and medical benefits. All employed Kenyans are required to contribute to the NSSF and contributions are deducted from their monthly wages.
2. Old Mutual
Old Mutual is one of the leading pension funds in Kenya. Old Mutual’s pension options include the Old Mutual Retirement Fund (OMRF), the Old Mutual Savings and Investment Plan (OMSIP), and the Old Mutual Executive Pension Plan (OMEPP). These plans provide members with a variety of benefits, including retirement allowances, disability benefits, death benefits, and medical benefits.
3. Britam Retirement Fund
Britam Retirement Fund is one of the largest and most popular pension funds in Kenya. It offers a range of retirement plans, including the Britam Retirement Fund, the Britam Savings and Investment Plan, and the Britam Executive Pension Plan. The fund provides members with retirement benefits, disability benefits, death benefits, and medical benefits.
4. ICEA Lion Pension Fund
The ICEA Lion Pension Fund is another popular pension fund in Kenya. It provides members with a range of benefits, including retirement benefits, disability benefits, death benefits, and medical benefits. The fund is managed by ICEA Lion Asset Managers and provides members with access to a variety of investment options.
5. UAP Old Mutual Pension Fund
UAP Old Mutual Pension Fund is one of Kenya’s oldest and most established pension funds. It provides members with retirement benefits, disability benefits, death benefits, and medical benefits. UAP Old Mutual also provides access to a wide range of investment options.
6. Sanlam Kenya Retirement Fund
Sanlam Kenya Retirement Fund is one of the largest pension funds in Kenya. The fund provides members with retirement benefits, disability benefits, death benefits, and medical benefits. Sanlam Kenya also offers a variety of investment options.
7. Prudential Retirement Fund
Prudential Retirement Fund is one of the most popular pension funds in Kenya. It provides members with a range of benefits, including retirement benefits, disability benefits, death benefits, and medical benefits. The fund also provides access to a variety of investment options.
8. CIC Retirement Fund
CIC Retirement Fund is one of the oldest and most established pension funds in Kenya. The fund provides members with retirement benefits, disability benefits, death benefits, and medical benefits. CIC also offers a variety of investment options.
9. Madison Asset Management Retirement Fund
Madison Asset Management Retirement Fund is one of the largest and most popular pension funds in Kenya. The fund provides members with retirement benefits, disability benefits, death benefits, and medical benefits. Madison Asset Management also provides access to a wide range of investment options.
10. Kenya Power Pension Fund
The Kenya Power Pension Fund is a retirement savings scheme for Kenya Power and Lighting Company Limited employees. The Fund was established and is administered in accordance with the provisions of the Retirement Benefits Authority Act, 1997 and the Retirement Benefits (Deposit–Taking Institutions) Regulations, 2003. It is a defined benefit scheme that provides retirement benefits to members on attaining the retirement age of 60 years.
Bottom line
These are some of the best pension funds in Kenya. You can choose the best pension fund that suits your needs and ensure that you have a comfortable retirement.