Complete List of Registered Umbrella Pension Schemes in Kenya

In Kenya, saving for retirement is a critical financial decision for both employees and employers. However, setting up individual pension plans can be costly and complex for businesses. This is where registered umbrella pension schemes in Kenya come in. These schemes allow employers to pool their staff’s contributions into one fund, offering better returns for employees and lowering administrative costs for employers.

This article provides a comprehensive list of the top umbrella pension schemes in Kenya, their benefits, and how they help improve retirement savings for both employees and employers.

1. Understanding Registered Umbrella Pension Schemes in Kenya

Registered umbrella pension schemes are authorized and regulated by the Retirement Benefits Authority (RBA). These schemes enable multiple organizations, large and small, to provide retirement benefits without the hassle of managing an individual pension fund.

Employers benefit from reduced management and compliance costs, while employees gain from professional fund management, ensuring their retirement savings grow in well-managed investment portfolios. These schemes also offer flexibility, low setup costs, and easy entry and exit for employers.

2. Comprehensive List of Registered Umbrella Pension Schemes in Kenya

Here’s a detailed list of the registered umbrella pension schemes in Kenya approved by the Retirement Benefits Authority (RBA):

1. ABSA Umbrella Retirement Benefits Fund
2. Amana Umbrella Pension Scheme
3. APA Life Umbrella Retirement Fund
4. Britam Umbrella Pension Fund
5. Britam Umbrella Provident Fund
6. CIC Umbrella Retirement Benefits Scheme
7. CICAM Umbrella Retirement Fund
8. Co-optrust Investment Retirement Benefits Scheme
9. County Pension Fund
10. County State Officers Umbrella Pension Fund
11. Cytonn Umbrella Retirement Benefits Scheme
12. Dhamini Umbrella Fund
13. Enwealth Umbrella Fund
14. Equity Umbrella Retirement Fund Pension Section
15. Equity Umbrella Retirement Fund Provident Section
16. Fusion Umbrella Retirement Benefits Scheme
17. Geminia Umbrella Provident Fund
18. Genafrica Kivuli Umbrella Provident Fund
19. Genghis Umbrella Fund
20. Globetec Umbrella Retirement Benefits Scheme
21. HFC Umbrella Retirement Benefits Scheme
22. ICEALION Guaranteed Umbrella Fund
23. ICEALION Umbrella Retirement Benefits Scheme
24. Jubilee Financial Services Limited Umbrella Fund
25. Kenbright Umbrella Retirement Benefits Scheme
26. Kenindia Umbrella Pension Scheme
27. Kenindia Umbrella Provident Fund
28. Kenya Orient Umbrella Pension Scheme
29. Kivuli Umbrella Fund
30. KUSSCO Mutual Umbrella Retirement Benefits Scheme
31. KUZA Umbrella Retirement Benefits Fund
32. Liberty Life Boresha Maisha Umbrella Provident Fund
33. Liberty Life Umbrella Pension Fund
34. Lofty-Corban Umbrella Pension Fund
35. Madison Umbrella Retirement Benefits Scheme
36. Mayfair Umbrella Provident Fund
37. Minet Kenya Umbrella Retirement Fund
38. Mwavuli Pension Fund
39. NCBA Umbrella Retirement Benefits Scheme
40. Ngao Umbrella Pension Scheme
41. NTISL Umbrella Retirement Benefits Scheme
42. Octagon Umbrella Retirement Benefits Scheme
43. Old Mutual Umbrella Retirement Benefits Scheme
44. PenlifeTrust Umbrella Retirement Benefits Scheme
45. Pioneer Umbrella Retirement Fund
46. Prudential Umbrella Retirement Benefits Scheme
47. Qijito Umbrella Pension Plan
48. Sanlam Umbrella Retirement Fund
49. Suluhu Umbrella Scheme
50. Taifa Umbrella Pension Fund
51. Takaful Umbrella Fund
52. The Jubilee Insurance Umbrella Scheme
53. The Kenyan Alliance Insurance Company Limited Umbrella Fund
54. The Monarch Umbrella Retirement Fund

3. Why Employers Prefer Registered Umbrella Pension Schemes in Kenya

Umbrella pension schemes are particularly attractive to employers for several reasons. First, they eliminate the complex and costly process of setting up individual pension schemes for each employee. Employers enjoy a simplified process that reduces administrative work, making these schemes an efficient and cost-effective option.

Additionally, contributions to these schemes are tax-deductible, providing a significant tax advantage for employers. This helps businesses reduce their payroll costs while contributing to the financial well-being of their employees.

4. Why Employees Benefit From Registered Umbrella Pension Schemes in Kenya

Employees benefit from registered umbrella pension schemes because their savings are managed by professional fund managers. Pooling contributions from multiple employers creates larger, more diversified investment portfolios, improving the chances of higher returns over time.

The reduced management costs ensure that a larger percentage of the contributions go directly into employees’ retirement savings. Furthermore, the portability of these schemes means that employees can carry their retirement savings with them if they change jobs, ensuring continuity in their retirement planning.

5. How to Contact the Retirement Benefits Authority

If you need to verify any details about the registered umbrella pension schemes in Kenya or have inquiries regarding your pension contributions, you can reach out to the Retirement Benefits Authority (RBA) at the following contact details:

• Address: Rahimtulla Tower, 13th Floor, Upper Hill Road, Opposite UK High Commission
• Phone: 020 280 9000
• Toll-Free: 0800720300 (Safaricom)