Retirement planning is a critical part of financial security, and Individual Pension Plans (IPPs) offer a valuable way to save for the future. These personal savings accounts allow individuals to contribute towards their retirement while benefiting from tax relief, flexible contributions, and diverse investment options. Unlike employer pension schemes, IPPs provide greater control over your retirement savings, making them a popular choice for self-employed, employed, and informal sector workers.
In Kenya, the Retirement Benefits Authority (RBA) regulates and ensures that IPPs operate in compliance with the law, safeguarding members’ contributions. This article provides an updated list of all registered Individual Pension Plans (IPP) in Kenya, helping you choose the right plan for securing your future.
Understanding Registered Individual Pension Plans (IPP) in Kenya
Registered Individual Pension Plans (IPP) are personal retirement savings accounts that are governed by the Retirement Benefits Authority (RBA). These plans are designed to help individuals save for retirement while offering tax benefits and access to various investment opportunities.
Key benefits of joining an IPP include:
- Tax Relief: Contributions to your IPP are eligible for tax relief, reducing your overall tax burden.
- Flexible Contributions: You can contribute any amount, making IPPs suitable for individuals in both formal and informal sectors.
- Wide Investment Choices: IPPs offer a variety of investment options, including equities, bonds, and fixed income securities, to grow your savings.
Whether you are employed, self-employed, or working in the informal sector, an IPP provides a flexible and secure way to prepare for retirement.
List of Registered Individual Pension Plans in Kenya
Here is the full list of registered IPPs in Kenya, as provided by the Retirement Benefits Authority (RBA):
| No. | Registered Individual Pension Plan |
|---|---|
| 1 | ABSA Individual Pension Fund |
| 2 | Amana Personal Pension Plan |
| 3 | APA Life Assurance Limited Individual Retirement Benefits Scheme |
| 4 | Benefits At Work Personal Pension Scheme |
| 5 | Blue MSMEs Jua Kali Individual Retirement Benefits Scheme (Mbao Pension Plan) |
| 6 | Britam Individual Pension Plan |
| 7 | Britam Individual Provident Fund |
| 8 | Chancery Personal Pension Plan |
| 9 | CIC Jipange Personal Pension Plan |
| 10 | CPF Individual Pension Scheme |
| 11 | Cytonn Personal Retirement Benefits Scheme |
| 12 | Dry Associates Personal Provident Plan |
| 13 | Enwealth Diaspora and Expatriates Retirement Fund |
| 14 | Enwealth Personal Pension Scheme |
| 15 | Equity Individual Savings and Retirement Plan |
| 16 | Fahari Retirement Plan |
| 17 | GA Life Personal Pension Plan |
| 18 | GA Life Personal Provident Plan |
| 19 | Geminia Personal Pension Plan |
| 20 | Genafrica Hifadhi Personal Pension Scheme |
| 21 | Genafrica Hifadhi Personal Provident Scheme |
| 22 | Gencap Individual Pension Plan |
| 23 | ICEA Lion Individual Retirement Benefits Scheme |
| 24 | Jistawishe Personal Pension Plan |
| 25 | Jubilee Insurance Personal Pension Plan |
| 26 | Jubilee Life Personal Provident Fund |
| 27 | Kenbright Individual Provident Fund |
| 28 | Kenindia Assurance Personal Pension Plan |
| 29 | Kenya National Entrepreneurs Saving Trust |
| 30 | Kenya Orient Individual Pension Plan |
| 31 | Kilele Personal Retirement Benefits Scheme |
| 32 | KUSCCO Mutual Individual Retirement Benefits Scheme |
| 33 | KUZA Individual Pension Plan |
| 34 | Liberty Life Boresha Maisha Individual Pension Plan |
| 35 | Liberty Life Boresha Maisha Individual Provident Plan |
| 36 | Madison Insurance Personal Pension Plan |
| 37 | Mafao Fund |
| 38 | Mayfair Individual Pension Plan |
| 39 | Mercantile Personal Provident Fund Scheme |
| 40 | Minet Individual Pension Plan |
| 41 | Mwanariadha Pension Plan |
| 42 | Mwavuli Individual Pension Plan |
| 43 | NCBA Investment Bank Individual Pension Plan |
| 44 | NTISL Personal Pension Plan |
| 45 | Octagon Personal Pension Scheme |
| 46 | Old Mutual Individual Retirement Benefits Scheme |
| 47 | Prudential Individual Retirement Benefits Scheme |
| 48 | Qijito Personal Pension Plan |
| 49 | Sanlam Life Personal Pension Plan |
| 50 | Sportpesa Staff Pension Scheme |
| 51 | Heritage AII Individual Retirement Benefits Scheme |
| 52 | Kenya Alliance New Life Individual Retirement Benefits Scheme |
| 53 | Monarch Personal Pension Plan |
| 54 | UAP Life Assurance Individual Retirement Benefits Plan |
| 55 | Ustawi Personal Pension Plan |
| 56 | Wakili Personal Retirement Benefits Scheme |
| 57 | Zamara Vuna Pension Plan |
| 58 | Zimele Guaranteed Personal Pension Plan |
| 59 | Zimele Personal Pension Plan |
Benefits of Joining Registered Individual Pension Plans in Kenya
Tax Advantages
One of the key benefits of participating in an IPP is the tax relief on your contributions. The Kenyan government provides tax relief on contributions up to a certain limit, reducing your overall tax burden and encouraging long-term savings.
Flexible Contributions
IPPs offer the flexibility to contribute based on your income and financial situation. This makes them ideal for individuals from all walks of life, whether employed, self-employed, or working in the informal sector.
Wide Investment Choices
IPPs provide a diverse range of investment options, including equities, bonds, and fixed-income securities. This allows you to tailor your investment choices based on your retirement goals and risk tolerance.
Retirement Benefits Authority Contact Information
For further details or to confirm the status of a pension plan, you can contact the Retirement Benefits Authority (RBA):
- Address: Rahimtulla Tower, 13th Floor, Upper Hill Road, Opposite UK High Commission
- Phone: 020 280 9000 / Toll-Free: 0800720300 (Safaricom)
Bottom-Line
Registered Individual Pension Plans in Kenya offer a safe and flexible way to save for retirement. With a wide range of providers and investment options, you can choose a plan that aligns with your financial goals. By taking advantage of the tax benefits and flexible contribution structures, you can build a secure financial future for yourself.
Always ensure that the plan you select is approved by the Retirement Benefits Authority to ensure the protection of your savings and secure your retirement.
