What is A Personal Retirement Scheme?

A Personal Retirement Scheme (PRS), also referred to as a Personal Pension Plan, is designed to help you, as an individual, to save up for their retirement. The money is invested in various financial instruments that enable it to grow over the savings period with an intent to give you a regular income in retirement.  Upon attaining retirement age, you can claim their retirement savings in any of the following two ways:
  • As Provident Fund Benefits
Under this option, you will receive all your retirement savings as a lump sum. You also have the option to take a portion of the fund to purchase an Annuity or an Income Draw-Down plan. 
  • As Pension Fund Benefits
Under this option, you will receive 1/3 of your accumulated retirement savings as a lump sum and the balance used to purchase an Annuity guaranteed for at least 5 years or an Income Draw-Down plan.

Kick-start your Personal Retirement Scheme with us

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Our Personal Retirement Scheme gives a minimum guaranteed interest of 4% per annum: This interest is earned on a daily basis and ensures that small, regular contributions grow into significant retirement savings over time.

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What Are the Features of ICEA LION's Personal Retirement Scheme?

Your Contributions Belong To You

The contributions to your Personal Retirement Scheme remain yours whether they are self-funded or employer-funded, even if you change your job or are no longer in employment for any reason.


From as low as KES 1,000 per month, you can set up your Personal Retirement Scheme or pension plan.

Tax-Exempt Single Lump-Sum Transfers Between Schemes

You can make such a
transfer from other registered funds to ICEA LION’s Personal Retirement Scheme tax free.

Growth of Your Contributions

The contributions you make are invested in various financial instruments with a minimum guaranteed interest of 4% per annum. This interest is earned on a daily basis and ensures that small, regular contributions grow into significant retirement savings over time.


You can make your contributions monthly, quarterly, half-yearly or annually depending on your plans. You may change the frequency and amount of contribution at any time so long as it is not less than KES 1,000  per month. You can make contributions through salary deductions, M-Pesa payments or direct debits with your financial institution.

Tax Benefits

Pensions are also governed by the Income Tax Act (Cap 470) and valuable tax advantages are provided for in the act. Subject to certain limits, your contributions, investment growth and benefits will all be tax-free. Any contribution exceeding the tax-exemption limit is invested separately, in a taxable fund.

Mortgage Security

60% of your accumulated pension savings can be used as additional security by a lender for your mortgage.

For more information about our ICEA LION's Personal Retirement Scheme, visit our knowledge base

What Else Do I Need to Know About ICEA LION’s Personal Retirement Scheme?

Treatment of Fund in Unfortunate Case of Demise: In the unfortunate event of the demise of the retirement scheme member, their nominated beneficiaries will receive your accumulated pension benefits.

Illustration of Estimated Earnings: Assuming you make contributions for 15, 20 and 25 years at KES. 2,000 and KES. 15,000 per month, the following will be the growth assuming a 10%* per annum rate.

This is an illustration and the rate projected for the whole period and is not a guaranteed return.

ICEA LION's Personal Retirement Scheme Rate of Return on Investments

The 8 year Declared Net Rate of Return which was credited to member’s contributions is as follows:

Year Return on Investment (%)

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For a little as Kes 500/- and with the right partner to back you up, the only way for your investments is up