About Taifa
Taifa Pension Fund is an umbrella pension scheme designed for employers. It is a defined contribution pension fund managed by Kenya’s largest administrator - CPF Financial Services.
Taifa Pension Fund accepts NSSF Tier II statutory contributions and promises a wide range of benefits to both employers and employees.
Cost Savings
In addition to saving for retirement, members of Taifa Pension Fund enjoy group life cover, last expense cover, chronic illness benefit and permanent total disability benefit at a subsidized cost.
For Employers
Optimal Returns
With a diversified investment portfolio and years of investment experience, the fund promises optimal returns to her members.
Quick Onboarding
It takes 1 business day to transfer an employer’s retirement scheme to the Taifa Pension Fund. Our online portal and 24/7 customer support make the process seamless.
Advisory Support
Taifa Pension Fund members benefit from free advisory support to help them structure their business operations in preparation for the full rollout of the NSSF Act 2013.
Enhanced Life Insurance Benefits
Enhanced Medical Benefits
All members enjoy a death in service benefit of 3x annual salary payable to beneficiaries as well as critical illness, retrenchment and permanent total disability benefits.
Members can save for medical needs and receive post retirement medical cover from the CPF Post-Retirement Medical Fund (PRMF).
Ease of Access
Taifa Pension Fund has national presence and branches in every region for easy access by members. Our online portal is accessible to customers 24/7 and provides real time access to one’s statement at no extra cost.
Access to Shariah compliant investment
As members of TPF, employees can enjoy access to the Shariah-compliant Retirement Benefits Fund administered by CPF Financial Services – Salih.
Speedy Payment of Benefits
TPF members receive their benefits within 14 days of leaving service, including the statutory Tier II contributions payable at retirement.
Access to Exclusive Financial Services
Through the CPF network, members of Taifa Pension Fund have access to investment opportunities, training and personal finance products including digital lending and save as you spend.
For EmployeEs
Administered by Kenya’s largest pension fund administrator
Our strength
200+ Unique employers
500,000+ members across Kenya
7000+ active pensioners
RETIRE
Bila Wasss!
JoiN in 3 easy steps
Upload your company
details
Company Details
KRA PIN
Company logo
No. Of staff
Download required documents
DOA
Resolution document
Notice to Staff
Form CI
Sign and
re-upload forms
Upload all the downloaded and signed documents
FAQs
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What are Tier II contributions?Tier 2 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.
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How much will Tier II contributions cost?Tier 2 contributions are the bulk of your statutory contribution. It costs 6 % of your salary and is phased over a 5 year period.
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How are Tier II contributions calculated?Tier 2 contributions are based on your earnings between lower earnings limit and upper earnings limit. Example If you earn 20,000 shillings every month, (For member) 6% x 20,000 = 1,200 (For employer) 6% x 20,000 =1,200 = 2,400 shillings Tier 1 contribution based on your lower limit to NSSF will be 720 shillings 2400 - 720 =1,680 shillings
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What is the deadline for making monthly Tier II contributions?The deadline for making contributions is the 10th day of every month.
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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.
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What is the difference between a pension and a provident fund?A pension fund is the payment that you receive after your years of service e.g. a monthly payment arrangement, while a provident fund is a lump sum payment, this means that whatever your employer has put aside for you, plus the investment income that you earn is paid all at once.
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What are the changes in the new NSSF Act?The NSSF act came into play in 2013, with the major change being a transition of NSSF from a provident fund(receiving a lump sum payment) to a pension scheme arrangement (receiving a monthly payment arrangement).
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Tier II contributions will be graduated. What does this mean?Graduated or phased out contributions are the total contributions per member which is 12% based of the annual gross salary for individuals which will start at the lower limit of 6,000 shillings that progressively grows based on the national earning average for the members within the country.
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What size of company is required to make contributions to NSSF?Any registered company with as few as one employee is required to make contributions.
The NSSF Act 2013 sought to revise the monthly contributions by both employer and employee from KES 200 to a 6% deduction operated in the Tier 1 and Tier II system. While the implementation of the Act was suspended by a court order in 2014, the law is now effective immediately following a court ruling.