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Madison Individual Personal Pension Plan/ Akiba Bora


This is a specially designed savings plan to make provision for retirement to individuals. It enables one to build up funds by making periodic contributions into a high yielding retirement fund to provide retirement, savings and/or investment benefits.


  • To provide self employed or employee in Organizations without a Company sponsored scheme an opportunity to save regularly for their retirement.
  • To enable the members taking the scheme to enjoy taxation benefits available to members in occupational schemes both on contributions and benefit pay outs.
  • Remittances to the plan can be made either through a bankers cheque or Bank Transfers (Banker’s Order) or a salary deduction order or though by MPesa through the employer. 


  • This plan provides a disciplined savings vehicle for retirement therefore Securing ones future,
  • Tax benefits-retirement savings of up to ksh.20000 per month or ksh.240000 p.a. are tax exempt. contributing to a pension scheme,
  • On retirement this product can be used to purchase an annuity which guarantee constant income in retirement,
  • In case of untimely death the product offers one an opportunity to make a succession plan and convert life cover and pension savings into family income fund thereby protecting children and family while securing their future,
  • Penalty free payment holidays,
  • The funds are invested by professional fund managers thereby giving attractive returns while guaranteeing security of the funds,
  • Transfer from other schemes helps one in consolidating retirement savings in one personal plan for ease of management. One can transfer contributions from a  scheme to a personal plan where they get personalized services they also have an option to make additional contributions just transfer the existing funds,
  • Annual statements are sent to members to show the contributions and returns,
  • Life cover benefit- Cover includes Life cover or the full sum assured, 30% critical illness benefit and Kshs 50,000 for funeral cash.


1. How often can you invest?
You can invest money regularly or you can make one-off payments as and when you want. The minimum regular payment is 1,000 per month there is no maximum. Money can be remitted through Salary Stop Orders, Mpesa, Bankers Order, Direct Debit among others.

2. Is there a penalty if I miss a month’s payment?


3. What are the Tax Benefits?

It's a tax efficient way for you to invest for your retirement because Kenya Revenue Authority allows you to save up to 20,000 per month or one third of your monthly income tax free. It is
important to note that the investment income from your savings is also tax exempt.

How do I get Started

  • By filling a proposal form
  • Payment of initial premium