Retirement Planning for Gig Economy Workers: Start Today

I met a man named Kamau last week at a car wash in Buruburu.

He was wiping down an old, but immaculate, Toyota Caldina. He told me he’s been a taxi driver in Nairobi for over thirty years. He was driving long before any of us had ever heard of Uber or Bolt. He was part of a group they used to call "Karura," the original Nairobi cabbies who knew every shortcut and back alley in the city.

He’s seen it all. The good years and the lean years.

But as we talked, I could see a worry in his eyes that I recognized. He’s in his late 60s, and he’s still on the road. Not because he wants to be, but because he has to be.

"Retirement?" he said with a sad smile. "That’s a luxury for people with office jobs, my friend. For us, the car is our pension. If it stops, we stop."

His words hit me hard. Because I know he’s not alone. We all see them: the older drivers, the veterans who should be enjoying their sunset years, still battling the daily traffic, still chasing the next fare. They are a living reminder of a terrifying question we all secretly ask ourselves:

What happens when I can't drive anymore?

The Gig Economy's Broken Promise

This business gives us freedom.

It gives us the chance to be our own boss. To earn a living on our own terms.

But here’s the painful truth it doesn't give us: a safety net.

Unlike a traditional job, there is no company pension plan waiting for us. There is no HR department reminding us to save. There is no mandatory contribution to a retirement fund.

There is only today’s earnings. And today’s expenses.

This creates a dangerous cycle. We get so caught up in the daily hustle—paying for fuel, rent, school fees—that we tell ourselves we’ll think about the future "later."

But "later" is a lie.

Later becomes next month. Next month becomes next year. And before you know it, twenty years have passed, and you're still on the road, not out of choice, but out of necessity. You're trapped.

It's Not About How Much You Start With. It's That You Start.

I know what you're thinking.

"Mark, I can barely cover my costs now. How can I possibly think about saving for retirement?"

I used to think the exact same way. The idea of saving thousands of shillings a month felt impossible. So I did nothing.

That is the biggest mistake we can make.

Retirement planning isn’t about putting away huge sums of money from day one. It's about building a habit. It’s about respecting your future self enough to set aside something, anything, today.

The power of saving isn't in the amount. It's in the consistency. It’s in the magic of compounding, where the small amounts you save start earning their own money over time. A little becomes a lot, but only if you start now.

Your Retirement Toolkit: Simple Steps to a Secure Future

Forget complicated financial jargon. Building a retirement fund in Kenya is more accessible than you think. Here are three practical options you can start with today, right from your phone.

1. The Government's Safety Net: NSSF Haba Haba

The National Social Security Fund (NSSF) isn't just for employed people. They have a program specifically for the informal sector called Haba Haba.

• How it works: You can contribute as little as KSh 25 a day. You simply dial *303# on your phone and you can top up your NSSF account directly from M-Pesa. It’s simple, secure, and backed by the government.
• Why it's great for us: It’s flexible. On a good day, you can contribute KSh 200. On a slow day, you can contribute KSh 50. You are in control. It’s a powerful, easy way to start building a government-guaranteed pension pot.

2. The People's Pension: The Mbao Pension Plan

This is a fantastic product, recognized by the Retirement Benefits Authority (RBA), designed for people with fluctuating incomes.

• How it works: You can save as little as KSh 20 a day. You contribute via M-Pesa, and you can track your savings easily. The Mbao Pension Plan is managed by professional fund managers who invest your money to help it grow.
• Why it's great for us: It was literally built for the "hustle" economy. It understands that our income isn't fixed. It gives you a private pension plan without needing a huge, stable salary.

3. The DIY Approach: A Personal Investment Fund

If you want more control, you can open a personal money market fund or a balanced fund with reputable companies like Britam, ICEA Lion, or CIC.

• How it works: These funds pool money from many investors and invest in a mix of secure assets. They often earn higher returns than a standard savings account. You can usually start with KSh 1,000 and top up anytime via M-Pesa.
• Why it's great for us: It offers higher growth potential. This is a good option once you've built a consistent saving habit and want to make your money work a bit harder for you.

How RiderPal Becomes Your Retirement Partner

Knowing these options is one thing. Finding the money to contribute is the real challenge.

This is where you stop being just a driver and start being a CEO of your own business. And RiderPal is the tool that gives you the CEO's perspective.

• Find the "Hidden" Money: For one week, track every single shilling you spend in the RiderPal app. Every car wash, every lunch, every airtime top-up. At the end of the week, look at your expense report. You will be shocked. You’ll find the KSh 100 you spent on a soda here, the KSh 200 on parking there. You will find your retirement money hiding in your daily expenses.
• Build Your Plan with the "Better Goal Setter": This is the first step. Use the Goal Setter to plan your monthly budget. Here, you can add multiple savings goals. You can create a goal for your NSSF contributions, another for an emergency fund, and maybe one for a future vehicle upgrade. By treating "Retirement" as an essential expense like fuel, you build it into your financial DNA.
• Track Your Future with the "Savings Tracker": This is where the magic happens. Our upcoming advanced budgeting tool will feature a Savings Tracker that lets you manage all your goals in one place. It's smart. If you have a short-term goal like saving for a vacation and a long-term goal like retirement, the system will help you prioritize. It can suggest how to allocate your daily profits, ensuring your critical long-term goals (like your pension) are never forgotten, even when you're saving for something more immediate.

By making your retirement savings a planned business expense, it stops being an afterthought. It becomes a priority.

Your Future Self is Begging You

Imagine yourself in 20, 30, or 40 years.

Do you want to be like Kamau, still on the road, forced to work because you have no other choice?

Or do you want to be the person who owns their time? The person who can choose to rest, to travel, to spend time with their grandchildren, all because the younger version of you was wise enough to start today?

Every trip you complete is a chance to build a better future. Every KSh 50 you set aside is a brick in the house of your financial freedom.

Don't let "later" steal your future.

Your Car Will Retire One Day. Will You?

Your Toyota Aqua is a faithful workhorse.

But it won't last forever. The engine will wear out. The parts will become expensive. One day, it will retire.

The question is, will you be able to?

The choice is yours, and it starts today. It starts with the next trip you take. It starts with the next KSh 100 that comes into your hand. Will it be spent without a thought, or will it be the first seed you plant for a future of dignity and freedom?

Don't just work for today. Build for tomorrow. Download RiderPal, find your savings, and start your retirement journey on your very next trip.