ALL YOU NEED TO KNOW ABOUT LAPTRUST
Local Authorities Pensions Trust (LAPTRUST) has a history of more than 90 years, when it was established as a pension scheme for employees of the then Local Government Authorities. The basic objectives for Laptrust DB Scheme are to enhance returns while maintaining membership and ensuring a healthy funding level to ensure sustainability
Inception
Kenya local Government Officers Superannuation Fund begun its operations in 1929 as a pension scheme for employees of the then Local Government Authorities.
1929
Scheme opened to all local authorities senior officers
Through Legal Notice No. 313 of 1963, new rules and regulations for the scheme were enacted, enabling all senior officers of Local Authorities to join the scheme, regardless of race, color or creed, as was previously the case.
1963
Scheme Opened to All Employees of Local Authorities
Through amendments in 1993 to the KLGOSF Rules of 1963 , the scheme opened its doors to all cadre of employees of Local Authorities, whether salaries or non-salaried.
1993
KLGOSF changed to LAPTRUST
Kenya Local Government Officers Superannuation Fund dropped in favor of the more dynamic, Local Authorities Pension Trust, LAPTRUST.
2005
Lap trust closed its DB scheme to new members
The Laptrust DB Scheme closed its doors to new members in 2012 and in a new Defined Contribution Scheme, Laptrust (Umbrella) Retirement Fund, was registered to meet the retirement needs of new employees within the then Local Authorities of Kenya.
2012
Vision & Mission
Vision
“To improve the quality of lives of members”
Mission
“To provide innovative retirement benefits that enhance the socio-economic welfare of all the contributors and beneficiaries”.
Core Values
MEET OUR TRUSTEES
The Board of Trustees is the Trust’s governing body and is responsible for the corporate governance of the Trust. Under the Law of Trusts, the Trustees are the legal owners of the Assets of the Scheme on behalf of the members and other beneficiaries.
MANAGING DIRECTOR, CPF
Hosea Kili, OGW
An advocate of the High Court of Kenya, Mr. Hosea Kili is the Group Managing Director/CEO of CPF Financial Services and a Trustee of the Local Authorities Pension Trust.He holds a Masters of Business Administration from the Management College of South Africa.
He is a Fellow Member of the Institute of Certified Public Secretaries of Kenya (ICPSK); a Fellow and Council Member of Kenya Institute of Management (KIM); an active member of the Law Society of Kenya (LSK) and a Member of the Chartered Institute of Arbitrators (Kenya Branch).
He also serves as a Council member of the East and Central Africa Social Security Association (ECASSA) and a Non-Executive Director at the Nairobi Securities Exchange (NSE).
He is currently the Chairman of the Association of Pensions Administrators of Kenya (APAK).A Visionary leader, Mr. Kili was awarded the Presidential Order of Grand Warrior of Kenya in December 2011 and the 2nd Runners up CEO of the Year at the COYA Awards 2012.
He was also recognized as the Personality of the Year at the 2017 Pension Awards that sought to award excellence in innovation and service provision to improve the outcomes of both pension funds as well as members.
Mr. Kili was also recognized as the 2nd Runners up in the ‘CEO of the Year’ category during the 2017 Champions of Governance Awards.
TRUSTEE
Julius Korir, CBS – Principal Secretary, State Department for Devolution
Mr. Julius Korir, CBS, is the Principal Secretary, State Department for Devolution, Ministry of Devolution and Arid and Semi-Arid Lands (ASALs).
Prior to this appointment, he was the Principal Secretary in the State Department for Youth Affairs, Ministry of Information, Communication and Technology, Innovation and Youth Affairs.
Mr. Korir has also previously served as the Principal Secretary in the State Department for Infrastructure, Ministry of Transport, Infrastructure, Housing, Urban Development and Public Works, and in the Ministry of Health.
Mr. Korir has been instrumental in promoting improved livelihoods for the Youth by ensuring they have access to decent jobs, entrepreneurship and skills development and mentorship in addition to encouraging the youth to exploit their talents for economic gain.
His experience extends to managing Public/Private Partnership (PPP) initiatives, bringing together Public and Private Sector Stakeholders. His wealth of experience has seen him spearheading the Contractor Facilitated Road Development Mechanism. This entails Design-Finance-Build and Transfer PPP Framework of the Roads Annuity Programme. He is keen on enterprise development and has vast experience in the fields of country promotion, particularly Foreign Direct Investment (FDI), exports and tourism with a view to enhancing economic growth in Kenya.
Mr. Korir has been involved in managing a large portfolio of Government and Development Partner Funded Projects spread throughout the Kenya. He holds an MBA in International Business and a BSc. in Agricultural Economics
TRUSTEE
Matilda Kimetto
Matilda Kimetto is a trade union leader and a strong defender of Labour rights. She currently serves as the Deputy Secretary General of Kenya County Government Workers Union, previously having served as the National Organizing Secretary. She is an employee of Nairobi City Water and Sewerage Co. Ltd, Human Resource and Administration Directorate.
She holds a B.A in Business Administration from the Kenya Methodist University and the School of Credit Management; where she earned a professional level certificate in Credit Management.
Matilda represents the Workers in the Laptrust Board of Trustees.
TRUSTEE
Hon. Joseph Kaberia I. A., MBS. (JP).
Hon. Joseph Kaberia Isaac is an Advocate of the High Court of Kenya and the first and current Speaker of the County Assembly of Meru in Kenya. Hon. Kaberia attended the University of Nairobi for his Bachelor of Laws Degree, Kenya school of Law for his Post Graduate Diploma in Legal Education and Studies and Galilee International Management Institute (GIMI) Israel for a Post Graduate Diploma in Contemporary Public Administration Management. Currently, he is pursuing a Doctor of Philosophy (Ph.D.) in Business Administration and Management at Kenya Methodist University.
Hon. Joseph Kaberia serves as the Vice-Chair of the Kenya County Assemblies Speakers’ Chapter. Professionally, he is a member of the Law Society of Kenya, Member of the International Commission Jurists (ICJ) Kenya Chapter, Member of the Kenya County Assemblies Forum (CAF), and Member of the Meru Bar Association (MBA). In October 2018, he was decorated by the president of the Republic of Kenya H.E. Uhuru Kenyatta with an award of Member of the Order of the Burning Spear of Kenya (MBS) for rendering exemplary service to this country.
TRUSTEE
Winfred Syombua
Winfred Mbai Syombua is an accomplished Strategic Manager with over 8 years’ experience in senior management level. She is the current Managing Director of Machakos Water and Sewerage Company and serves as an Executive Director of the Water Services Providers Association (WASPA).
Winfred holds an MBA in Strategic Management and Leadership from St. Paul’s University, a Bachelor of Science Degree in Medical Laboratory Science from Kenyatta University and a Diploma in Business Management from Kenya Institute of Management. She is a member of the Institute of Directors- Kenya and the Kenya Institute of Management (KIM).
Ms. Syombua represents Water Companies and associated organization on the LAPTRUST Board of Trustees and brings a wealth of experience in Strategic Performance Management, Corporate Governance and Leadership, Change Management, Strategic Management, Strategy formulation and Implementation.