Kenya’s retirement benefits landscape offers two key options for employers: occupational schemes and umbrella schemes. Both are regulated by the Retirement Benefits Authority (RBA), but they differ in structure, governance, and suitability depending on the size and capacity of the employer.
These are employer-sponsored pension arrangements set up specifically for the employees of a single organization. The employer establishes the scheme, appoints trustees, and manages contributions and benefits according to a custom trust deed and rules. Occupational schemes offer tailored investment strategies and governance structures, making them ideal for large organizations with the resources to manage scheme administration, compliance, and trustee training.
However, for smaller employers, the costs and complexity of running an occupational scheme such as trustee appointments, audits, and regulatory filings can be prohibitive. That’s where umbrella schemes come in. Umbrella schemes allow multiple employers to join a pre-existing pension arrangement managed by a corporate trustee. Each employer’s contributions are tracked separately, but the scheme benefits from pooled investments, shared governance, and standardized rules. This structure reduces administrative costs and ensures professional management, making it especially attractive to SMEs, startups, and informal sector players.
Umbrella schemes also offer portability, allowing employees to retain their benefits when switching jobs within the same scheme. They’re designed to be inclusive, scalable, and compliant with RBA regulations, while still delivering strong investment performance and member education.
The Cytonn Umbrella Retirement Benefits Scheme (CURBS) is a leading example of innovation in this space. CURBS is built for flexibility, affordability, and impact, serving SMEs, gig workers, and informal sector contributors. It offers digital onboarding, customizable contributions, and intuitive dashboards for tracking savings. CURBS also leads in financial literacy, using myth-busting campaigns and trustee training to demystify retirement planning.
For employers seeking a smart, inclusive pension solution without the burden of standalone scheme management, CURBS delivers governance, growth, and empowerment. It’s more than a pension—it’s a pathway to financial resilience.
