Are Pension Plans Available For Individuals Or Only Organisations?

We have the Individual Pension Plan (IPP) that is available for individuals.

How Do I Pay For My Premiums?

Premiums can be paid through Direct Debit, employer check-off, cheque payments, or M-Pesa Paybill 541400 using your policy number.

What Are The Different Ways Of Paying Premiums?

You can use payroll check-off, Direct Debit, or M-Pesa paybill.

How do I get a comprehensive insurance cover?

Britam's 24/7 Rescue service provides assistance at the scene of an accident and supports the smooth processing of claims.

What Is A Money Market Fund?

A money market fund is a unit trust fund that invests in low-risk instruments such as treasury bills, fixed deposits, and high-quality short-term debt securities.

What Education Policies Do You Have?

Britam offers three education plans: Msingi Poa, Super E-Plus, and Elimu Bora.

How Often Do I Make Payments?

Premium payments can be made monthly, quarterly, semi-annually, or annually depending on the policyholder's preference.

Britam NSSF Tier II Retirement Solution

The NSSF Act 2013

The NSSF Act 2013 was introduced on 24 December 2013 to replace the NSSF Act Cap 258 of 1965. It was not fully implemented until 3 February 2023 when the Court of Appeal declared the Act constitutional and directed its implementation with immediate effect. The Act requires that both you and your employees increase your NSSF contributions from KES 200 per month to 6% of pensionable salary (subject to certain salary maximums). These contributions will be on a graduated scale referred to as tiers.

Calculation of Contributions

TIER 1 CONTRIBUTIONS

Tier 1 contributions are calculated as 6% of an employee’s pensionable income up to a maximum referred to as the Lower Earnings Limit (L.E.L). This is currently capped at KES 9,000 per month. The maximum contribution for Tier 1 is thus KES 540 per month. This is applied both for the employer and employee contributions summing up to KES 1,080 per month.

TIER 2 CONTRIBUTIONS

Tier 2 contributions are based on 6% of an employee's pensionable earnings currently capped at KES 108,000 per month for the year 2026. The maximum Tier 2 contributions are therefore KES 5,940 per month, being calculated as 6% of KES 99,000 (i.e. Upper Earnings Limit (U.E.L) of KES 108,000 minus Lower Earnings Limit (L.E.L) of KES 9,000 for both the employer and employee summing up to KES 11,880 per month for Tier 2.

Competitive returns - A guaranteed rate of return of 5% as well as competitive bonuses.
Professional management of funds - The fund is managed by a highly skilled, qualified, and experienced team that handles the day-to-day administration and investment of funds.
Service standards and self-service portal - Dedicated support during the setup and contracting-out process. A dedicated relationship manager. A self-service portal access for employees and employer.
Diversification of risks - Spread of risk between public and private sectors ensures that you get the best of both worlds.
Prompt benefit settlement - Britam ensures prompt settlement of pension benefits and ease of transfer to post-retirement plans and products.
Member education - Free member education and continuous industry updates through regular workshops and webinars and similar forums.
End-to-end retirement planning solutions - Tailormade solutions that cater for both pre and post-retirement planning ensuring a secure future with structured pension plans. Retirees receive a steady monthly income, providing financial stability and peace of mind throughout their retirement years.
Compliance - Transparency in all our dealings and compliance with laid-down investment regulations.
Access to Britam Afya Pension - Get access to Britam Afya Pension, a post-retirement medical savings fund through which your employees can save towards purchasing medical insurance at retirement.

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Britam NSSF Tier 2 Retirement Solutions | How It Works

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Britam NSSF Tier II Retirement Solution