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Home Pensions

Consolidating Pension Contributions in Kenya

Faith Ndunda by Faith Ndunda
August 15, 2025
in Pensions
Reading Time: 2 mins read

Throughout a professional career, it is common for individuals to accumulate pension savings across multiple schemes as they transition between employers. While each scheme may have served its purpose during a specific period of employment, leaving contributions scattered across various plans can hinder effective retirement planning. Consolidating these pension contributions into a single, well-managed scheme is both permissible and advisable under the Retirement Benefits Authority (RBA) regulations.

A consolidated pension arrangement ensures that all retirement savings are centrally managed, reducing the likelihood of losing track of benefits or encountering administrative delays when making future claims. It also provides a clearer, unified picture of one’s retirement progress, enabling more informed planning and decision-making. Instead of reviewing several statements from different providers, members can assess their position through one account, simplifying goal setting and performance tracking.

Cost efficiency is another important consideration. Pension schemes have varying fee structures, and by consolidating into a cost-effective, well-performing fund, members can potentially improve their long-term returns. Over time, even small differences in annual fees can significantly affect the size of a retirement payout.

The process of consolidation begins with selecting a receiving pension scheme that is registered and regulated by the Retirement Benefits Authority (RBA). This may be an individual retirement benefits scheme, such as a personal pension plan, or an umbrella scheme in which the member remains enrolled regardless of future employment changes. The member must then formally notify their current pension scheme(s) of the intention to transfer, providing the necessary identification and details of the receiving scheme. Trustees of both schemes will liaise to ensure accurate valuation and compliance with regulatory requirements. Under RBA guidelines, transfers should be completed within 60 days, ensuring timely settlement of benefits.

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For those who have exited formal employment or operate within the informal sector, transferring benefits into a personal retirement benefits scheme offers autonomy and continued growth. Similarly, employers can leverage umbrella schemes to consolidate staff pensions, reduce costs, and ensure regulatory compliance. This trend is gaining traction in Kenya, particularly among institutions seeking to streamline pension management while enhancing member outcomes.

Cytonn Pensions offers a compelling solution for both individuals and employers seeking to consolidate pension contributions. Through its Cytonn Personal Retirement Benefits Scheme (CPRBS) and Cytonn Umbrella Retirement Benefits Scheme (CURBS), the firm provides seamless consolidation services, competitive returns, and robust governance. Members benefit from optional life and medical cover, and strategic investment management tailored to Kenya’s evolving financial landscape.

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Faith Ndunda

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