Asset firm gets nod to become pension scheme

 

PHOTO | SAMMY KIMATU | FILE Group Managing Director CIC Insurance Group, Nelson C. Kuria during the interview on July 26, 2012. CIC Asset Management a subsidiary of CIC group has received a nod from the market regulator to operate as a pension scheme.  NATION MEDIA GROUP

By NATION CORREPONDENT

CIC Asset Management has received a nod from the market regulator to operate as a pension scheme.

The firm, which is a subsidiary of CIC Insurance Group, will leverage partnerships with co-operatives and chamas across the country to grow the scheme.

“We want individuals and corporate organisations to enjoy the benefits of pension funds run professionally,” said the firm’s managing director Peter Mwaura.

The company will also employ IT to reduce the cost of doing business and enhance efficiency in management of pension funds.