CPF Group Pension Funds, which include LAPTRUST, the County Pension Fund, and the CPF Individual Pension Plan, demonstrated strong growth and performance in 2022. During the Annual General Meeting (AGM) held in Nakuru County, Hosea Kili, the CPF Group Managing Director/CEO, provided insights into LAPTRUST’s performance, revealing that the combined value of the three schemes as of December 31, 2022, was Ksh.70 billion, with a total membership of 113,090 individuals.
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LAPTRUST’s fund value reached Ksh.31.26 billion, surpassing its target level of Ksh.30.20 billion. Additionally, the County Pension Fund saw significant growth, with its fund value rising from Kes 27.7 billion in 2021 to Ksh.35.07 billion in 2022. This increase resulted in a substantial rise of Kes 6.8 bn in net assets during the review period. Moreover, the active membership of the County Pension Fund expanded from 57,106 members in 2021 to 77,474 by the end of 2022.
CPF Financial Services Chairman, Maurice Nduranu, attributed this impressive performance to their unwavering focus on strategic priorities. Despite facing uncertainties in the challenging global macroeconomic and geopolitical environment, the CPF Group remained well-positioned to leverage their unique strengths and meet stakeholders’ expectations.
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When considering the National Government Public Service Superannuation Scheme (PSSS), the Assets Under Management (AUM) for all pension schemes managed by CPF Financial Services currently exceed Ksh.150 billion, with a nationwide membership base of 500,000 individuals. Over the years, CPF Group Schemes have consistently emphasized innovation, strategic partnerships, and the development of tailored retirement solutions to cater to the evolving needs of their members.
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