Arab Finance: EFG Holding has introduced an employee pension scheme, appointing Kaf Insurance to handle its establishment and administration and EFG Hermes Asset Management to oversee the investment of retirement savings, as per an emailed press release.

The initiative aims to provide employees with a structured retirement savings solution, extending the group's financial benefits beyond their years of service.

Under the arrangement, Kaf Insurance, a joint venture between EFG Holding subsidiary EFG Finance and GB Capital, will manage the scheme's operational framework, administration, insurance services, and digital infrastructure.

Meanwhile, EFG Hermes Asset Management will serve as the investment manager, overseeing employee retirement funds in accordance with the scheme's long-term objectives.

The initiative brings together expertise from across EFG Holding's businesses, with the group acting as the scheme sponsor and drawing on its insurance and asset management capabilities to support employees' financial security.

“Our people have always been at the heart of EFG Holding’s long-term success, and supporting their financial well-being is an important part of our commitment to them. The launch of our employee pension scheme reflects our belief that employee benefits should extend beyond the present, providing greater financial security. We are proud to leverage the expertise within our Group to offer a structured retirement savings solution that reinforces our commitment to our employees throughout their careers and beyond,” Inji Abdoun, Group Chief Human Resources Officer of EFG Holding, said.

The appointment comes as Kaf Insurance continues to expand its pension business in Egypt. The company has surpassed EGP 1.6 billion in assets under management and generated EGP 600 million in pension revenues year-to-date in 2026.

Kaf is targeting EGP 2 billion in assets under management by the end of 2026, supported by the continued expansion of its pension operations.

Youssef Shokeir, Deputy CEO of Kaf Insurance, said, “EFG Holding’s decision to entrust Kaf Insurance with the setup and administration of its employee pension scheme reflects the confidence placed in our capabilities and our commitment to delivering a comprehensive pension proposition. Having surpassed EGP 1.6 billion in assets under management, we continued to build on our momentum by strengthening our operational capabilities and digital experience to serve both employers and their employees. We believed that well-structured pension schemes played an important role in supporting employees’ long-term financial well-being, while giving employers an effective way to strengthen their employee value proposition.”

On the investment side, EFG Hermes Asset Management will apply its portfolio management expertise to the scheme, focusing on the long-term management of employees' retirement savings.

Karim Zaafan, Managing Director at EFG Hermes Asset Management, commented, “Managing retirement savings required a long-term perspective, disciplined investment management, and a clear understanding of the responsibilities that come with safeguarding employees’ financial futures. Through this scheme, we brought our investment management expertise into an initiative that directly supported the long-term financial security of EFG Holding’s employees. We are committed to applying our capabilities to manage the scheme in line with its objectives and supporting a sustainable approach to retirement planning.”