This, as more micro, small, and medium-sized enterprises (MSMEs) shift towards formal retirement savings.
The fund delivered a net return of 18.05 per cent in 2025, while its net assets rose 12 per cent to Sh1.185 billion, from Sh1.056 billion a year earlier.
Total contributions reached Sh205.3 million, extending a five-year expansion that has seen the fund grow more than six-fold from Sh196 million in 2021.
Membership also increased 28 per cent to 1,762 from 1,374 in 2024, highlighting growing demand for pooled pension solutions among employers and workers.
A key source of the momentum has been the NSSF Tier II contracting-out arrangement.
Contributions through the facility rose sharply from Sh1.82 million in 2023 to Sh30.62 million in 2025, accounting for about 15 per cent of Enwealth’s total contributions last year.
The trend could provide further upside as the fund targets MSMEs, a segment traditionally underserved by formal pension schemes.
The broader industry data points to a favourable environment.
Kenya’s pension assets crossed the Sh3 trillion mark for the first time, reaching Sh3.167 trillion by June 2026, according to the Retirement Benefits Authority (RBA).
Assets grew 12.66 percent in six months and 25.13 percent year-on-year.
The expansion reflects both increased contributions and investment gains following reforms to the NSSF framework.
Pension access also improved from 15.2 percent of the population in 2021 to 20.4 percent in 2024.
The Retirement Benefits Authority (RBA) says coverage remains inadequate and has set a target of 34 per cent by 2029.
Enwealth’s performance therefore comes as the retirement sector becomes an increasingly important source of long-term capital.
Pension assets were equivalent to about 17.6 per cent of Kenya’s GDP by June 2026, underlining their growing importance to the financial system and the wider economy.
Speaking at the Fund’s annual general meeting, management said the positive growth trajectory is expected to continue in 2026, supported by new inflows and rising membership.
The fund is also betting on technology to deepen penetration among smaller businesses.
It has introduced digital onboarding for MSMEs using the Tier II opt-out, alongside integrated gratuity, additional voluntary contribution and post-retirement medical fund solutions.
Members can also access an online portal providing statements, retirement projections and benefit-planning tools, as well as facilities for updating personal and beneficiary information.
The outlook, however, remains exposed to global and domestic risks, including geopolitical tensions, energy prices, inflation and weather-related shocks.
Enwealth says diversification and prudent risk management will remain central to protecting members’ savings while pursuing sustainable long-term returns.
