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CPF unveils new fund to support Kenya’s unpensionable workers
CPF Financial Services has introduced the Taifa Pension Fund, a new pension scheme targeting Kenya’s unpensionable workforce across both private and public sectors.
The fund, managed by Standard Investment Bank, provides flexible retirement solutions for those without traditional pension access, such as informal sector workers.
Taifa Pension Fund offers a range of benefits including high returns, global market exposure, and diversified investment opportunities.
It serves as an umbrella fund, allowing participating employers to pool resources, thus reducing the overall cost per member in scheme administration.
CPF Group Managing Director/CEO Hosea Kili emphasized the fund’s role in promoting financial security, stating, “Our decades of experience in the financial sector have equipped us with the expertise to develop a pension solution that’s accessible to all Kenyans. Taifa Pension Fund is central to our mission to ensure that every Kenyan worker has the opportunity to build a prosperous future.”
This launch comes amid recent statistics from the Kenya National Bureau of Statistics (KNBS) showing that over 13.9 million Kenyans lacked retirement pensions last year, underscoring the need for inclusive retirement solutions.
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