5 Personal pension plans, side by side
You save for retirement in your own name, with a tax break, and cannot touch it until you retire.
How this is ordered
Ordered by what you would actually be left with — the same money in, over the same years, with each plan's own charges taken out. Not by the rate each one advertises.
The example: KES 5,000 a month for 5 years.
| Plan | Rate they quote | Charges take | You'd end up with | Won't say |
|---|---|---|---|---|
| Fahari Retirement PlanZamara | 5% guaranteed | KES 22,404 | KES 334,490 | 4B |
| Personal Pension PlanJubilee Life Insurance | 4% guaranteed | KES 0 | KES 332,600 | 8D |
3 that cannot be placed
These do not publish enough for the example to be worked out. That is not a reason to leave them off the page.
| Plan | Rate they quote | Charges take | You'd end up with | Won't say |
|---|---|---|---|---|
| Individual Retirement PlanBritam Life AssuranceThey do not publish how much of each payment they keep before anything is saved for you. | 5% guaranteed | not disclosed | not disclosed | 8D |
| Jipange Plus Pension PlanCIC Life AssuranceThey do not publish how much of each payment they keep before anything is saved for you. | 5% guaranteed | not disclosed | not disclosed | 9D |
| Personal Retirement SchemeICEA LION Life AssuranceThey do not publish how much of each payment they keep before anything is saved for you. | 4% guaranteed | not disclosed | not disclosed | 8D |
- · Individual Retirement Plan: does not say whether that is before or after charges. A floor, not the rate. Britam guarantees "a minimum compounded rate of 5% per annum" and that the pot "is guaranteed against any form of reduction". The page does not publish what it has actually credited, or whether the rate arrives before or after any cost.
- · Jipange Plus Pension Plan: does not say whether that is before or after charges. A floor, not the rate. The brochure promises a "guaranteed rate of return of 5% p.a." from the CIC Life guaranteed fund and "competitive rates of return since 2009", without saying what those were.
- · Personal Retirement Scheme: does not say whether that is before or after charges. A floor, not the rate. ICEA LION guarantees your savings earn at least 4% a year, credited daily; the actual rate is declared each year and can be higher. The page does not say whether the declared rate arrives before or after any charges.
- · Personal Pension Plan: does not say whether that is before or after charges. A floor, not the rate. Jubilee's page promises a "guaranteed investment rate of 4%" and guarantees the accumulated capital. What is credited above that is declared each year after the audit: the minutes of the scheme's 2023 AGM record a member citing "that declared rate of 9.5%" for 2022, and an answer that did not dispute it. Jubilee publishes no rate history on the page.
- · Fahari Retirement Plan: after charges. A floor, not the rate. Fahari "guarantees a minimum interest rate of 5% per year", with a 100% capital guarantee; anything above is credited at the end of each financial year. Its 2% plus VAT fee is taken from the interest, so the floor is what you keep only if the fund earns enough above it.
Grades measure how openly a company explains its charges, not whether a plan is good. How we work them out.