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Listed non-banking financial services firm Sanlam Kenya Plc (NSE: SLAM) has launched Sanlam Akiba Plus, a revolutionary digital pension solution designed to make retirement planning flexible, accessible, and rewarding for all Kenyans.
The mobile-first platform empowers users to register, contribute, and manage their savings entirely online—putting retirement planning in the palm of their hands. This innovation underscores Sanlam’s commitment to financial inclusion, digital transformation, and the expansion of life insurance and pension coverage across Kenya.
Driving Growth in Kenya’s Insurance Sector
The launch of Akiba Plus aligns with recent data from the Insurance Regulatory Authority (IRA) showing strong industry growth. In Q2 2025, Kenya’s long-term (Life) insurance business recorded KES 110.39 billion in gross written premiums, representing a 17.7% increase compared to the same quarter in 2024.
This upward trend, driven by digital transformation and regulatory reforms, reflects the growing appetite among Kenyans for flexible, tech-enabled financial solutions like Akiba Plus.
A Vision for Inclusive, Tech-Driven Retirement Planning
Speaking during the launch, Sanlam Life CEO Jacqueline Karasha said Akiba Plus was created to close Kenya’s pension gap by making saving for retirement simpler and more accessible:
“Our goal with Akiba Plus is to close the pension gap in Kenya by offering a simple, credible, and future-ready solution that works for everyone. This is about empowering Kenyans to save consistently and retire with dignity.”
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Sanlam Kenya Group CEO, Dr. Patrick Tumbo, EBS, emphasized that Akiba Plus represents Sanlam’s broader commitment to digital insurance innovation and wealth empowerment:
“With Sanlam Akiba Plus, our clients—both individuals and organizations—will enjoy a seamless digital experience that allows them to grow their wealth and retirement savings conveniently.”
The Four Akiba Plus Pension Products
To meet diverse needs across individuals, SMEs, and corporations, Akiba Plus offers four tailor-made pension solutions, each designed to deliver flexibility, transparency, and security:
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Akiba Plus Personal Pension Plan (IPP):
A flexible, tax-efficient savings plan that allows individuals to contribute at their own pace, enjoy tax relief, and monitor their investment growth in real-time.
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Akiba Plus Post-Retirement Medical Fund (PRMF):
A specialized fund helping savers prepare for healthcare costs after retirement, ensuring access to quality medical care in later years.
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Akiba Plus Employer Umbrella Plan (UPP):
A digital pension solution for businesses, integrating seamlessly with payroll systems while offering employees a secure and attractive long-term benefit.
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NSSF Tier II Compliant Pension Plan:
A compliant, digital-first option that enables employers to channel mandatory Tier II contributions under the NSSF Act into Akiba Plus for potentially higher returns and better visibility.
Guaranteed Growth and Security
All Sanlam Akiba Plus contributions are protected against capital depreciation and guaranteed to earn a minimum annual return of 5%. The fund will be managed in line with the Trust Deed and Rules, Investment Policy Statement (IPS), and the Retirement Benefits Act, ensuring transparency and compliance at every level.
Pioneering a Future of Financial Freedom
By merging technology with trusted financial expertise, Sanlam Akiba Plus marks a major step toward inclusive, tech-driven pension management in Kenya. The platform is set to empower a new generation of savers—individuals, SMEs, and corporates—to take control of their financial future with confidence and ease.
