Individual Pension Plan (IPP)
Retirement should be a time to enjoy the rewards of your hard work, not a time to worry about money. Whether you are employed, self-employed, running a business or working as a professional, planning for retirement is one of the most important financial decisions you can make.
An Individual Pension Plan (IPP) is a personal retirement savings arrangement that lets you make regular or occasional contributions. Your contributions are invested by the selected pension provider, so your fund accumulates investment earnings and benefits from compounding over time.
Unlike an employer-sponsored scheme, an IPP is personally held and remains yours when you change employment, become self-employed or move between careers. It is especially valuable if you have no workplace pension, or want to top up the one you have.
Start PlanningSix Benefits Of An Individual Pension Plan
Build Long-Term Financial Independence
Accumulate retirement savings throughout your working life, reducing dependence on family or other support after retirement.
Flexible Contributions That Suit Your Income
Contribute monthly, quarterly, semi-annually or annually. Some schemes let you increase, reduce or temporarily suspend contributions as your income changes.
Tax Benefits On Contributions
Contributions to a registered pension scheme may qualify for tax relief of up to KSh 30,000 per month or KSh 360,000 a year, subject to prevailing Kenyan tax law.
Grow Your Savings Through Compounding
Contributions are invested and returns reinvested. Some providers offer guaranteed-fund options that protect capital and declare a minimum return.
Keep Your Pension When You Change Jobs
Your IPP is portable and not tied to one employer. Eligible benefits from previous employers may also be consolidated into it.
Protect Your Beneficiaries
If you die before retirement, accumulated benefits may be paid to your nominated beneficiaries or dependants under the scheme rules and applicable law.
Who Should Consider An Individual Pension Plan?
- Self-employed individuals and entrepreneurs
- Professionals and consultants
- Employees without a workplace pension scheme
- Employees seeking additional retirement savings
- Individuals transitioning between jobs
- Business owners planning for retirement
- Individuals wishing to consolidate previous pension benefits
Whether you are starting your career or approaching retirement, it is never too early to plan for your financial future.
What Happens To Your Savings At Retirement?
Depending on your pension arrangement and applicable regulations, your accumulated savings may provide retirement benefits through a lump-sum payment, a Pension Annuity or an Income Drawdown arrangement. We help you understand these options before you retire, so you can make informed decisions about your future income.
Why Choose Wysline For Your Individual Pension Plan?
Retirement Needs Assessment
We help you estimate the income you may need during retirement.
Flexible Savings Planning
We guide you in choosing contributions that match your current financial capacity.
Pension Provider Evaluation
We help you compare suitable retirement solutions and understand their features.
Financial Education
We explain pension investments, compounding, tax and retirement benefits in simple language.
Ongoing Guidance
We support you as your income, responsibilities and retirement goals change, helping you build generational wealth.
Frequently Asked Questions
Can I open an Individual Pension Plan if I am self-employed?
Yes. IPPs are particularly suitable for self-employed individuals, business owners and professionals who wish to build retirement savings independently.
Can I change my monthly pension contribution?
Many individual pension schemes allow members to increase, decrease or suspend contributions depending on their financial circumstances.
Can I have an IPP if I already contribute to NSSF?
Yes. An Individual Pension Plan can complement your NSSF contributions and help you build additional retirement savings.
Can I withdraw my pension savings before retirement?
Early access may be permitted under certain circumstances, subject to applicable regulations, tax implications and scheme rules.
What happens if I stop contributing?
In many schemes, your accumulated retirement savings remain invested and continue earning investment returns, subject to the provider's terms and prevailing market rates.
What happens to my pension if I change jobs?
Your IPP stays yours. It is not tied to any employer, and benefits from a previous employer's scheme can usually be transferred into it, subject to the transfer requirements.
How much should I be contributing each month?
A common guide is 10–15% of your income, starting as early as possible, though the right amount depends on your age, current savings and the income you want in retirement. Contributions to a registered scheme may qualify for tax relief of up to KSh 30,000 a month.
Can I have both an individual and an employer pension plan?
Yes. Many people contribute to an employer scheme and top up with a personal plan to reach their retirement goal. The tax relief applies to your combined contributions, up to the limit set by law.
Book Your Free Retirement Planning Consultation
The best time to prepare for retirement is while you still have the opportunity to build your savings. We help you take the first step towards a financially independent retirement.
Tax and scheme rules: Tax relief limits, early-access rules and benefit options are set by Kenyan tax law, Retirement Benefits Authority regulations and each scheme's rules, and may change.
Investment returns: Investment returns and any guarantees depend on the selected scheme. Past performance does not guarantee future returns.