NAIROBI, Kenya, July 4 – The CPF Group has posted robust monetary outcomes for the yr ended 2024, pushed by strong asset development and rising membership throughout its pension schemes.
The LAPTRUST Defined Benefit (DB) Scheme noticed web belongings rise to Sh28.1 billion, up from Sh26.99 billion in 2023, reflecting the scheme’s constant funding technique.
The County Pension Fund (CPF) posted probably the most important development, with web belongings surging to Sh51.67 billion from Sh36.97 billion.
CPF Group Group MD and CEO Hosea Kili credited the efficiency to prudent fund administration, a deep understanding of member wants, and a give attention to monetary literacy by means of innovation and partnerships.
The Group declared an 8.8 p.c rate of interest regardless of macroeconomic volatility.
Active membership rose to 94,116 following the enrolment of over 17,500 new members, whereas the sponsor base expanded to 194 establishments.
Other schemes beneath the Group additionally recorded constructive development, with the Salih Fund attracting 9,895 members, the Post-Retirement Medical Fund growing its belongings from Sh32.8 million to Sh55.2 million, and the Individual Pension Scheme posting a 42.4 p.c rise in belongings to Sh4.11 billion.
Board Chairperson Maurice Nduranu mentioned the CPF Group’s robust development cements its place as a market chief.
He famous that future technique will give attention to high-impact investments, know-how adoption, and governance reforms to ship sustainable, member-focused retirement options and assist Kenya’s broader financial improvement.
