PesaGuide
← All plans
ICEA LION Life Assurance

Personal Retirement Scheme

Personal pension · Regulated by the RBA

What is this?

You save for retirement in your own name, from KES 500 a month. ICEA LION guarantees at least 4% a year, and the taxman leaves it alone within legal limits.

The details that matter for this kind of plan

The least it can earn4% a year, guaranteed, credited daily
TaxContributions within legal limits, growth and payouts are all tax-free
At retirementTake it all, or a third as cash and the rest as income for years or for life
Backing a mortgageUp to 60% of your pot can secure a home loan
If you change jobsThe money stays yours, and other schemes transfer in tax-free
If you die before retiringThe balance goes to whoever you nominated

What does it cost you?

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

  • · No management or administration charge appears anywhere on the page, beside the rate it guarantees.
  • · The page does not say whether anything is taken off contributions before they are invested.

What if you stop paying?

Nothing happens. You can pause, change the amount, or change how often you pay.

What if you need the money early?

You mostly cannot. Pension money is locked to retirement by law — that is the design, not a penalty. The page does not state the earliest access age.

Who this suits

It could work for you if

You want retirement money that cannot be raided, with a guaranteed floor under it.

Think twice if

You may need this money before you retire. The law, not the provider, says no.

How openly does this company explain its charges?

DHides more than it shows8 of 16 answered
  • What do they charge you every year?
    No management or administration charge appears anywhere on the page, beside the rate it guarantees.
  • What is taken off the money you pay in?
    The page does not say 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?
    KES 500.
  • 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 4% is a floor. The actual rate is declared each year and the page does not publish the history.
  • · No charge of any kind appears on the page. Whether the declared rate arrives before or after costs is not stated.
  • · Contributions above the legal tax-free limit are still invested, but taxed.
  • · The scheme is on the Retirement Benefits Authority's own register, which is where a complaint goes: 0800 720 300.

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 4% on this page is the rate ICEA LION Life Assurance guaranteed, as at 2026-08-20 — current.

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..

Where we got this