Saving for retirement is one of the most important financial decisions any employee or employer can make. In Kenya, many employers want their staff to enjoy the benefits of a pension scheme but do not wish to set up individual plans. The solution lies in umbrella pension schemes. These plans pool retirement savings from different employers into a single registered scheme. They offer employees better returns, while employers enjoy zero set-up costs, lower running costs, and less administrative burden. Understanding Registered Umbrella Pension Schemes In Kenya Registered Umbrella Pension Schemes In Kenya are regulated and approved by the Retirement Benefits Authority (RBA). These schemes allow different organizations, both large and small, to provide retirement benefits to their employees without the need to manage a stand-alone fund.
Employers benefit because they transfer the compliance and management workload to professional fund managers. Employees benefit because their savings grow in well-managed investment portfolios. The result is a flexible, low-cost way to secure financial independence in retirement.
The main features of umbrella pension schemes include: Pooling of resources from multiple employers Professional fund management Reduced administration costs Faster registration compared to stand-alone funds Easy entry and exit for employers Below is a detailed list of registered umbrella pension schemes in Kenya as approved by the RBA. Comprehensive List Of Registered Umbrella Pension Schemes In Kenya No Umbrella Retirement Benefits Schemes 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 Why Employers Prefer Registered Umbrella Pension Schemes In Kenya Employers in Kenya find umbrella pension schemes attractive because they eliminate the heavy cost and paperwork of setting up private schemes.
Companies, including small and medium enterprises, can join an umbrella fund with minimal requirements. This makes it possible for businesses of all sizes to provide quality retirement benefits to their staff.
Employers also enjoy the tax benefits that come with contributions to umbrella schemes. These contributions are tax deductible, which lowers overall payroll costs while supporting employee financial security. Why Employees Benefit From Registered Umbrella Pension Schemes In Kenya Employees gain peace of mind knowing that their retirement savings are handled by professional managers. Since umbrella schemes pool contributions, the investments are larger and more diverse. This improves the chances of better returns over time.
The reduced costs mean more of the employees’ money goes directly into their retirement savings. Portability is another advantage. If an employee changes jobs, they can carry their pension benefits to another scheme without losing their contributions. How To Contact The Retirement Benefits Authority For verification or inquiries about Registered Umbrella Pension Schemes In Kenya, employees and employers can reach out to the Retirement Benefits Authority. Address Rahimtulla Tower, 13th Floor, Upper Hill Road, Opposite UK High Commission Phone 020 280 9000 Toll-Free No: 0800720300 (Safaricom)