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CIC Life Assurance

Jipange Plus Pension Plan

Personal pension · Regulated by the RBA

What is this?

You save for retirement in your own name, from age 18. CIC guarantees at least 5% a year. You can also put money aside for medical bills after you retire.

The details that matter for this kind of plan

The least it can earn5% a year, guaranteed
Registered withIRA, KRA and RBA, by the brochure's own words
Medical money for laterYou can also save into a post-retirement medical fund, and move up to 10% of your pot into it
If you die before retiringThe pot goes to whoever you named, as cash or towards medical cover
Paying outWithdrawals settled within 5 working days of full papers
Who can joinAnyone aged 18 and over

What does it cost you?

CIC Life Assurance does not publish what it charges. We looked for 2 charges and found no figure for any of them:

  • · The brochure promises "reduced costs due to economies of scale" for administration, fund management, trusteeship and custody, and gives no figure for any of them.
  • · Nothing read says whether anything is taken off contributions before they are invested.

What if you stop paying?

Nothing happens. The brochure sets no minimum and no schedule.

What if you need the money early?

You mostly cannot. Pension money is locked to retirement by law. If you leave a job early, the pot waits for retirement age.

Who this suits

It could work for you if

You want a guaranteed floor and the option of a medical fund for old age.

Think twice if

You want to know the charges first. The brochure promises low costs and names none.

How openly does this company explain its charges?

DHides more than it shows7 of 16 answered
  • What do they charge you every year?
    The brochure promises "reduced costs due to economies of scale" for administration, fund management, trusteeship and custody, and gives no figure for any of them.
  • What is taken off the money you pay in?
    Nothing read says whether anything is taken off contributions before they are invested.
  • What does it cost to get out early?
    No exit penalty is printed in the sources we checked.
  • What is the smallest amount you can start with?
    They do not publish a minimum. You have to ask an agent.
  • How long is your money tied up?
    They do not say how long you are tied in.
  • Is the advertised return before or after their charges?
    They never say. So you cannot tell what you would actually keep.
  • Do they warn you the return is not guaranteed?
    No warning appears next to the figure, even though it is not a promise.
  • Do they tell you what you get back if you stop early?
    No. You cannot find out what quitting would cost you without asking an agent.
  • Do they list what is not covered?
    This is not insurance, so there is nothing to exclude.
  • Are all their charges published?
    No. 2 charges are mentioned without a figure.
  • Do they say who regulates them?
    Yes — the RBA. That is who you complain to.

This grades how openly things are explained, not whether the plan is good or bad. See how we work it out.

Things to know before you sign

  • · The 5% is a floor. "Competitive rates since 2009" is the only thing said about what was actually paid.
  • · No charge is published. The brochure promises reduced costs and gives no figure.
  • · No minimum contribution is stated. Pay by salary deduction, standing order, M-Pesa or bank deposit.
  • · Money in the medical fund can only go to a medical provider, after you retire. Up to 10% of your retirement pot can move into it.
  • · The brochure says the fund is registered with IRA, KRA and RBA. The scheme is on the RBA's register.

Talk to them

Compared with the others

There are 4 other plans of this kind on the board. See all 5 side by side — what each one leaves you with, and which of them will not say.

How current is this rate?

The 5% on this page is the rate CIC Life Assurance guaranteed, as at 2026-08-21 — current.

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..

Where we got this