By Tony Wafula
The County Pension Fund (CPF) has posted impressive growth and strong returns for its members despite a challenging economic environment, Deputy Chief Executive Officer Joseph Rono announced during the Fund’s Annual General Meeting (AGM) held in Bungoma County.
Rono revealed that CPF declared an 11.4 % return for County Pension members, while the Individual Pension Plan (IPP) recorded a 10 % return, marking one of the organization’s most successful years in recent times.
“This year, we have posted some of the most impressive results, with County Pension declaring 11.4% and IPP at 10% despite the difficult economic environment the country went through last year,” Rono stated.
He further highlighted significant growth in CPF’s flagship, Post retirement medical fund, which has become an essential pillar for retirees seeking reliable healthcare coverage after leaving formal employment.
“Our post retirement medical fund has also continued to show great promise. We have recorded impressive results of around 12%, which shows the resilience and sound management of our schemes,” he said, adding that healthcare remains a top priority for retirees and CPF is committed to ensuring affordable medical access in old age.
The Deputy CEO underscored that CPF’s assets have more than doubled over recent years, driven by sound investment strategies and increased member confidence.
As of December last year, CPF’s total value stood at Sh51 Billion, a figure that has since risen to Sh 61 Billion.
“In terms of value, our fund has now grown to Sh61 billion, which is a testament to the confidence our members have in CPF and the prudent management of the organization,” Rono explained.
He praised the resilience of the Fund’s investment strategy, which has delivered strong returns despite the economic slowdown, inflationary pressures, and other fiscal challenges experienced nationwide.
“Our biggest challenge remains non remittance of contributions by some counties. If we would have received all remittances from counties, we would have posted even better returns for our members,” Rono said.
He emphasized that CPF continues to engage county governments, urging them to prioritize pension obligations as a fundamental part of their financial management practices.
“Pension is not a favor, it is a right for employees who have served diligently. Counties must honor their obligations to ensure their workforce enjoys a secure retirement,” Rono added.
Rono announced that CPF has made a major stride in adopting digital solutions aimed at enhancing efficiency, accessibility and transparency in service delivery.
He affirmed that the organization is leveraging technology to provide members with seamless access to pension services without the need for physical visits to CPF nationwide offices.
“As an organization, we are very innovative. We are banking much on digital evolution to serve our clients better so that they don’t always have to travel physically to our offices,” Rono said.
“We have invested heavily in technology to bring our services closer to members. Through our mobile platforms, members can now access their pension statements, apply for benefits and receive timely updates from the comfort of their homes or offices,” Rono explained.
He said the shift to digital platforms aligns with global trends in financial services and reflects CPF’s commitment to innovation and customer centric service delivery.
