, NAIROBI, Kenya Jun 10 – Laptrust Administration Services has invested Sh100 million in a re-branding program aimed at increasing its presence locally and regionally.
The company has changed its name to County Pension Fund (CPF) Financial Services as it embarks on the next phase of transformation that will see it expands its operations.
Speaking during the unveiling on Tuesday, CPF financial services Chief Executive Officer Hosea Kili said the re-branding would see the company roll out new products as well as offer financial and ICT solutions to counties.
Kili said the re-branding will expand their business and enhance coverage of retirement benefits in the country.
“Laptrust, as it has always been known, is a forward moving organsation that continually seeks to improve its customer experience and service standards in the region. In order to expand the business and enhance coverage of retirement benefits in the region, Laptrust has undergone a re-branding exercise culminating in a change of name of its administration company,” said Kili.
Kili emphasised that it is the scheme administrator (Laptrust Administration Services Ltd) that has undergone a change of name and not the Laptrust group of pension schemes.
“It should be noted that only a change of company name has been effected. All other details and structure of the company remain the same. Laptrust wishes to advise all stakeholders, business partners and suppliers to take note of this change and revise their records accordingly,” explained Kili.
The company’s core mandate was in pension’s management serving the former local authorities and now county governments.
Laptrust which was previously known as the Kenya Local Government Officers’ Superannuation Fund until it rebranded to Local Authorities Pensions Trust (LAPTRUST) in 2005, currently controls assets amounting to over Sh24 billion.
Laptrust Administration Services Limited was incorporated in 2010 as a Retirement Benefits Scheme Administrator to manage the Local Authorities Pensions Trust (a Defined Benefit Scheme), Laptrust (Umbrella) Retirement Fund (a Defined Contribution Scheme) and the Laptrust Individual Pension Scheme, altogether referred to as the Laptrust Group pension schemes.