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CPF Individual Pension Scheme, M-Pension, Exponentially Grows Its Membership, Net Asset Base and Fund Value
CPF Group Schemes’ held its Annual General Meeting that was graced by Homabay county governor Hon. Gladys Wanga.
Speaking during the meeting, CPF Group Managing Director/CEO, Dr. Mr. Hosea Kili, OGW noted that “In the year under review, the CPF individual pension scheme, M-Pension, managed to exponentially grow its membership, grow its net asset base and fund value.”
He added “The year 2023 was marked by significant achievements for the County Pension Fund, despite the challenging macro-economic environment. Our strategic investments, prudent management, and focus on member growth have positioned us well for continued success. We remain committed to securing the future of our members and providing exemplary customer service to our members.”
CPF Individual Pension Scheme, M-Pension, Exponentially Grows Its Membership, Net Asset Base and Fund Value
Notably, active membership of the Salih Fund increased from 9,086 members in the year ended 31 December 2022 to 9,131 as at 31 December 2023.
“Our philosophy is grounded in our desire to deliver value for all stakeholders of the scheme and to do so through unrivaled customer focus. We therefore reaffirm our commitment to our stakeholders for the important roles that each of you continues to play in ensuring the sustainability and success of the Laptrust Defined BenefitsScheme” said Winfred Syombua Mbai the Laptrust Board Chairperson.
Net Assets for Salih during the year ended 31 December 2023 stood at Kshs.1.5 Billion; up from Kshs.636 Million in the year ended 31 December 2022.
Mr. Hosea noted that “Our achievements in 2024 would not have been possible without the significant effort and steadfast determination of our staff, for which I am incredibly grateful. I am privileged to have the purpose of fulfilling the lives of our members and pensioners”
CPF Individual Pension Scheme, M-Pension, Exponentially Grows Its Membership, Net Asset Base and Fund Value
The growth in membership underscores CPDs ongoing efforts in member education, recruitment drives, and stakeholder engagement initiatives.
CPF has conducted numerous sensitization and recruitment activities across various counties, enhancing awareness about the benefits of our pension schemes.
In the year under review, the Scheme’s value as at 31 December 2023 was Kshs. 31.8 Billion, from Kshs 31.3 Billion as at 31 December 2020.
CPF Financial Services is a Financial Services institution that offers Pension Funds Administration, Management Consulting, Corporate Training & Development, Trust Fund Administration and Agency Services; with interests in Real Estate, Insurance and ICT & Renewable Energy.
More information on https://cpf.or.ke/
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