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Jubilee Life Insurance

Personal Pension Plan

Personal pension · Regulated by the RBA

What is this?

You save for retirement in your own name, as often as you like. Jubilee guarantees at least 4% a year, and there is no set-up fee. Members cited 9.5% as the rate declared for 2022.

If you put in KES 5,000 a month for 5 years

You pay in
KES 300,000
Charges take
KES 0
You'd end up with
KES 332,600
If you stop after 2 years instead

You would have paid in KES 120,000 and get back not disclosed.

They do not publish what you would get back if you stopped early. You would have to ask them.

  • · Based on paying KES 5,000 a month for 5 years.
  • · The value goes up and down. This is not a promise.
  • · Worked out from the company's own published figures.

The details that matter for this kind of plan

The least it can earn4% a year, guaranteed, with the capital guaranteed too
Declared for 20229.5%, as cited in the scheme's own AGM minutes
TaxRelief on contributions below KES 240,000 a year
Set-up feeNone, by the page's own words
At retirementDraw up to 15% a year as income and leave the rest invested
Backing a mortgageYour pot can stand as collateral

What does it cost you?

Taken off each payment you makeNothing
Yearly charge on your moneynot disclosed
  • · No management or administration charge is published. The 2023 AGM minutes name one scheme expense — the statutory RBA levy, about KES 5 million a year, the legal maximum — and say investment expenses are "greatly reduced" by pooling, without a figure.

What if you stop paying?

Nothing happens. You can pay monthly, quarterly, twice a year or once a year.

What if you need the money early?

You mostly cannot. Pension money is locked to retirement by law. The page names no age; Jubilee's blog says 50 at the earliest.

Who this suits

It could work for you if

You want a simple pension with a guaranteed floor and a fund that has paid well above it.

Think twice if

You may need this money before you retire, or you want to know the charges first. None are published.

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 is published. The 2023 AGM minutes name one scheme expense — the statutory RBA levy, about KES 5 million a year, the legal maximum — and say investment expenses are "greatly reduced" by pooling, without a figure.
  • What is taken off the money you pay in?
    Nothing. They state there is no charge here.
  • 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. 1 charge is 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 9.5% for 2022 comes from a member's question in the AGM minutes, which the answer did not dispute; Jubilee publishes no rate history on the page.
  • · Interest is credited once a year after the audit. Contributions that arrive late earn less.
  • · Contributions above the registered limit are taxed at 30% inside the fund, per the AGM minutes.
  • · No management charge is published. The scheme's one named expense is the statutory RBA levy, about KES 5 million a year.
  • · Tax relief on contributions below KES 240,000 a year. No set-up fee.
  • · The website footer names the Insurance Regulatory Authority; the scheme itself is on the RBA's register, and the RBA attended its 2023 AGM.

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 Jubilee Life Insurance guaranteed, as at 2026-08-21 — current.

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..

Where we got this