Sanlam Kenya has introduced Sanlam Akiba Plus, a groundbreaking digital pension solution that allows Kenyans to save for retirement directly from their mobile phones. The mobile-first platform is designed to make retirement planning simple, accessible, and convenient for individuals, small business owners, and employers. Users can now open pension accounts, make contributions, and manage their savings seamlessly through their phones — a move set to redefine how Kenyans approach long-term financial security.
According to Sanlam Life CEO Jacqueline Karasha, Akiba Plus represents a major step toward closing Kenya’s widening pension gap through technology. She emphasized that the product is built to empower Kenyans to save consistently and plan for a financially secure retirement. “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,” said Karasha, adding that this innovation is about ending old-age poverty through consistent saving and financial discipline.
Sanlam Akiba Plus offers four flexible pension options tailored to different needs: the Personal Pension Plan (IPP) for individual savers, the Post-Retirement Medical Fund (PRMF) for healthcare planning after retirement, the Employer Umbrella Plan (UPP) for companies providing employee benefits, and the NSSF Tier II Compliant Plan, which allows employers to channel mandatory contributions into Akiba Plus for enhanced returns and flexibility. All contributions are guaranteed against capital loss and earn a minimum annual return of 5 percent, aligning with the Retirement Benefits Act.
Sanlam Group CEO Dr. Patrick Tumbo highlighted that this innovation aligns with the company’s broader digital transformation agenda. He noted that Sanlam is heavily investing in technology to make financial products more transparent, convenient, and impactful for users. “Clients can now easily grow their savings and plan for their future with confidence,” Dr. Tumbo stated. The move comes at a time when Kenya’s life insurance and pension sector is experiencing steady growth, with life insurance premiums reaching Sh110.39 billion in the second quarter of 2025, driven by innovation and regulatory reforms.
Through Akiba Plus, Sanlam Kenya is advancing its mission of driving financial inclusion and retirement preparedness among Kenyans. The product empowers individuals to take control of their financial futures, ensuring that retirement saving is no longer complex or limited to a few. By merging technology with financial expertise, Sanlam is setting a new benchmark for innovation in Kenya’s insurance and pension landscape — helping build a future where every Kenyan can retire with dignity and financial confidence.
