A hand dropping a coin into a glass jar labelled Pension

Effortless Tier II Pension Savings with Enwealth Umbrella Fund

Thank you for your interest in the Enwealth Umbrella Fund. With Enwealth Umbrella Fund, we help you opt out your NSSF (Kenya) Tier II benefits with much ease.

Sign upAbout the Umbrella Fund
  • Approved by the RBA (Kenya) to receive NSSF Tier II contributions
  • No start-up costs for the employer or the employees
  • Tier II contributions are due by the 10th day of every month

Enwealth Umbrella Fund benefits

  • Life Insurance Cover

    An embedded life cover to the principal member of KES 500,000. Cover extends to Last Expense paid within 48 hours, Permanent Total Disability and Critical Illness.

  • Post-retirement Medical

    The Fund has provided a platform for members to make Additional Voluntary Contributions towards their Post-Retirement Medical cover. We offer expert advice on contributions modelling for adequacy in savings.

  • Robust Online Portal

    We boast of a robust member online portal with improved features that allow members access to their benefits, retirement tools and beneficiary updates.

  • Financial Literacy

    We guarantee our members free regular trainings and financial literacy sessions tailored to different age bands.

  • Mortgage at KMRC Rates

    Members of the Fund access single-digit mortgage rates, and enjoy free trainings and improved turnaround times on mortgage applications.

A smiling man at a home desk with a laptop and bookshelves

Is the Umbrella Fund for you?

It suits you if

  • You employ staff in Kenya and want their NSSF Tier II contributions in a scheme approved by the RBA
  • You wish to ride on an already existing retirement fund rather than run your own
  • You want governance, trusteeship, investment, custody and administration handled for you
  • You want no start-up costs for you or your employees

Look at another plan if

Joining is simple, convenient and has no start-up costs

  1. 1

    The employer signs

    The employer signs a Deed of Adherence undertaking to abide by the rules of the Fund.

  2. 2

    Members join

    Members individually complete and sign Joining Forms and Nomination of Beneficiary Forms, providing Enwealth with the member particulars.

  3. 3

    Accounts are opened

    We open individual accounts for each member, allowing members to view their contribution history and balances through our online portal and the Enwealth Mobile App.

Sign up
Common questions

Frequently Asked Questions

Tier I and Tier II contributions are those set by the NSSF Act 2013 in Kenya.

Ask us something else
What are Tier I contributions?

Tier I contributions are monthly contributions in respect of Pensionable Earnings up to the Lower Earnings Limit, that are done directly to NSSF.

What are Tier II contributions?

Tier II contributions are contributions that are over and above the normal contributions that are done to NSSF. This is how much money that can go into your existing pension fund.

What is Lower Earnings Limit?

This is the amount gazetted by the Cabinet Secretary from time to time as the average statutory minimum monthly basic wage for the top urban centres, second tier urban centres and rural areas for the year.

How much will Tier II contributions cost?

Tier II contributions are the bulk of your statutory contribution. It costs 6% of your salary and is phased over a 5-year period.

How are Tier II contributions calculated?

Tier II contributions are based on your earnings between lower earnings limit and upper earnings limit.

What is the deadline for making monthly Tier II contributions?

The deadline for making contributions is the 10th day of every month.

Is there a penalty for delayed contribution?

Yes, there is a penalty for delayed contribution. If you delay your contribution you will be denied the opportunity to get better benefits.

What is a contracted-out scheme?

It is an occupational retirement benefits scheme including an umbrella retirement benefits scheme or an individual retirement benefit scheme which has been approved and registered by the Retirement Benefits Authority for purposes of receiving Tier II Contributions and, where applicable, Tier II Fund Credit transfers.

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Submissions are kept for 24 months.