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County pension scheme eyes informal workers

koross

Lapfund CEO David Koross. PHOTO | WACHIRA MWANGI | NMG

The Local Authorities Provident Fund (LapFund), a contribution retirement scheme catering to county government and water companies' staff, is eyeing the informal sector and the diaspora to raise its membership.

The scheme, created by the LapFund Act, targets to reach a membership of at least 100,000 in the next financial year.

Its membership currently stands at 34,000 mainly drawn from mainstream counties and water and sewerage firms.

Chief executive David Koross on Friday said the scheme had embarked on an ambitious business plan with the aim of penetrating new markets in the informal sector and diaspora amongst others.

LapFund was established in 1960 and is one of the oldest retirement benefits schemes in Kenya.

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