Equity retirement assets cross $7 million as Kenya’s retirement savings surge

Two retirement schemes managed by Equity Life Assurance Kenya, a wholly owned subsidiary operating under Equity Insurance Group (EGIHL), which is a direct insurance subsidiary of Equity Group Holdings Plc., have grown their combined assets to more than Ksh900 million ($6.96 million), signaling a rising interest among Kenyans in long-term retirement planning.

The Individual Savings and Retirement Plan (ISRP) led the growth, with assets under management climbing sharply from Ksh313 million ($2.42 million) at the end of 2024 to Ksh796 million ($6.16 million) by June 30, 2026. The scheme, which had 408 members at the close of 2025, delivered a 13.6% net return during the period.

Steady gains across retirement products
The Equity Income Drawdown Fund also posted steady gains, with assets increasing from Ksh44 million ($340,407) at the end of 2024 to Ksh104 million ($804,599) by December 2025, before edging up to Ksh109 million ($843,282) by June 2026. The fund recorded a 13.8% return in 2025.

Equity Life Assurance Managing Director and Principal Officer Angela Okinda attributed the growth to increasing awareness and adoption of retirement savings among Kenyans.

“The continued growth in assets and membership is a clear signal of growing confidence in this Plan as a serious, credible vehicle for individual retirement planning in Kenya,” she said.

Okinda noted that both products are structured to help members sustain financial stability beyond their working years. “The Income Drawdown Fund and Individual Savings and Retirement Plan are a natural extension of that promise, ensuring members continue to enjoy financial security after formal employment,” she added.

Favorable conditions boost returns
Corporate Trustee Anthony Kilavi said supportive macroeconomic conditions helped the schemes outperform industry averages, expressing optimism about sustained performance into 2026.

The strong growth comes as Kenya intensifies efforts to promote pension savings, amid mounting pressures from inflation, rising life expectancy, and broader economic uncertainty that continue to strain household finances.