NAIROBI, Kenya, Aug 31 – Members of the Enwealth Umbrella Fund earned a net return of 18.05 per cent in 2025, as the retirement scheme increased its assets and membership, helped by growing uptake of the NSSF Tier II opt-out among employers.
The fund’s net assets increased by 12 per cent to Sh1.185 billion in 2025 from Sh1.056 billion a year earlier, while total contributions reached Sh205.3 million.
The fund has expanded more than six-fold over the past five years, growing from Sh196 million in 2021.
Membership rose 28 per cent to 1,762 in 2025 from 1,374 in 2024, with small and medium-sized enterprises (MSMEs) driving much of the increase.
Contributions through the NSSF Tier II opt-out rose sharply to Sh30.62 million in 2025 from Sh1.82 million in 2023. The contributions accounted for about 15 per cent of total contributions last year.
Enwealth said inflows from the Tier II opt-out have continued into 2026 as more MSMEs join the fund.
The developments were highlighted during the fund’s Annual General Meeting, where members were told that growth in assets and income was expected to continue in 2026.
The fund’s outlook comes against a mixed economic environment, with global oil prices, inflation, trade and financial markets facing risks from the Middle East conflict.
Domestically, agricultural output and food prices could also be affected by anticipated El Niño conditions, while the shilling is expected to remain relatively stable against the US dollar, supported by diaspora remittances.
Enwealth said its fund managers would continue using diversification and risk management to navigate changes in the economic environment.
The pension administrator has also invested in digital systems, including online onboarding for MSMEs participating in the NSSF Tier II opt-out programme.
The platform integrates gratuity, Additional Voluntary Contributions (AVCs) and Post-Retirement Medical Fund (PRMF) options.
Members can also access statements, retirement planning tools, benefit projections and update their personal and beneficiary details through an online portal.
