• Calvine Odiwuor
  • Dr. Were Joshua



Pension plans, mobile phone technology, entry age, annuities.


Purpose: The purpose of this research is to develop a pension model which uses mobile phone technology to facilitate contribution towards the user’s pension scheme.

Methodology: The entry age pension funding method, and annuity present value & accumulations methods are used to come up with the contribution rate and the actuarial liability for the model.

Findings: The model developed is independent of salary or any other income and only takes into consideration those legally registered to use mobile phone. Being a private pension plan, and the fact that it involves the member directly via and individual mobile phone subscription, wider coverage is anticipated.

Unique contribution to theory, practice and policy: Contribution towards pension scheme by use of mobile phone technology in which contribution (which is fixed and independent of salary) is achieved by how frequently, the credit is loaded and used by the subscriber.

Author Biographies

Calvine Odiwuor

Assistant Lecturer, School of Mathematics, Statistics, and Actuarial Science, Tom Mboya University College, Kenya.

Dr. Were Joshua

Lecturer, School of Mathematics, Statistics, and Actuarial Science, Maseno University, Kenya.


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How to Cite

Odiwuor, C., & Were, J. (2021). MODERNIZING PENSION FUND CONTRIBUTION. American Journal of Statistics and Actuarial Sciences, 3(1), 1 - 6.