CPF Group Pension Funds growth hits Ksh.70B mark

During the CPF Group Schemes’ Annual General Meeting (AGM) held in Nakuru County, CPF Group Managing Director/CEO Hosea Kili gave performance insights of LAPTRUST, highlighting that the 3 schemes' value as of 31 December 2022 was Ksh.70 billion, with a combined membership of 113, 090. 

The Laptrust scheme Fund value stood at Ksh.31.26 Billion, which was slightly above the target level of Ksh.30.20 billion; while the County Pension Fund posted a fund value of Ksh.35.07 billion in 2022, up from Ksh.27.7 billion in the year ended December 31, 2021. 

This translated to an increase of Ksh.6,803,297,000 in net assets in the period under review. Active membership of the Fund increased from 57,106 members in the year ended December 31, 2021 to 77,474 in the year ended December 31, 2022.

“This performance was made possible by relentlessly focusing on our strategic priorities. Despite the uncertainties brought about by the challenging global macroeconomic and geopolitical environment, it is clear that across our footprint, we are well-positioned to leverage our unique strengths to meet stakeholder expectations”, noted the CPF Financial Services Chairman, Maurice Nduranu.

Taking into consideration the National Government Public Service Superannuation Scheme (PSSS), The Assets Under Management (AUM) for all the pension schemes managed by CPF Financial Services are currently over Ksh.150 billion, with a membership base of 500,000 members across the country. 

Over the years, CPF Group Schemes have continued to prioritize innovation, strategic partnerships, and the development of tailored retirement solutions to meet the evolving needs of its members.