Sanlam Kenya Plc has announced the launch of Sanlam Akiba Plus pensions product. It is a new tech-driven solution aimed at making flexible retirement planning accessible to all Kenyans.
The product is designed to be delivered and distributed primarily on Sanlam’s digital platform. The launch aligns with robust growth in Kenya’s insurance sector, which saw the long-term (Life) insurance business report Ksh. 110.39 billion in gross written premiums in Q2 2025, a 17.7% increase year-on-year, driven by digital transformation.
Jacqueline Karasha, CEO of Sanlam Life, confirmed the launch, emphasizing the firm’s heavy investment in Insurance Technology (InsurTech) to boost the uptake of digital life insurance products.
“Our goal with Akiba Plus is to close the pension gap in Kenya by offering a simple, credible, and future-ready solution that works for everyone,” said Ms. Karasha. “This is about helping Kenyans save consistently and retire with dignity.”
Dr. Patrick Tumbo EBS, Group CEO of Sanlam Kenya, reinforced this commitment, noting that the development of Akiba Plus enhances the delivery and distribution of insurance through robust digital platforms.
“With Sanlam Akiba Plus, our existing and potential clients will now enjoy convenient access to a platform that allows them to take charge of their savings, increase their wealth, and grow their retirement savings,” Dr. Tumbo added.
The Sanlam Akiba Plus platform allows individual users to self-onboard into personal pension plans. It also enables employers and SME entrepreneurs to set up workplace pension schemes for their staff.
Akiba Plus bundles four innovative pension products to meet the diverse needs of individuals, groups, and businesses:
- Akiba Plus Personal Pension Plan (IPP): A flexible, tax-efficient savings plan for individuals, allowing real-time tracking and tax relief benefits.
- Akiba Plus Post-Retirement Medical Fund (PRMF): A specialized solution designed to help individuals save for rising healthcare expenses in retirement, ensuring access to quality medical care after active employment ends.
- Akiba Plus Employer Umbrella Plan (UPP): A comprehensive solution for businesses, offering seamless payroll integration and administrative support to provide employees with an attractive retirement benefit.
- NSSF Tier II Compliant Pension Plan: A compliant, digital-first alternative allowing employers to channel mandatory Tier II contributions into Akiba Plus for potentially higher returns, greater transparency, and online convenience for employees.
All contributions made to the Sanlam Akiba Plus scheme will be guaranteed against capital depreciation and will earn a guaranteed minimum return of 5%.