Supreme Court throws out StanChart bid to stop retirees’ dues
NAIROBI, Kenya, Sept 5 — The Supreme Court of Kenya has dismissed an application by Standard Chartered Bank Kenya Limited seeking to halt a Court Kenya breaking news | Kenya news today |..
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The Supreme Court of Kenya has dismissed an application by Standard Chartered Bank Kenya Limited (StanChart) attempting to halt a Court of Appeal (CoA) ruling. This ruling directed StanChart to pay millions of shillings in pension dues to former employees, marking a significant development in a long-standing dispute.
- The Supreme Court, led by Vice President and Chief Justice Philomena Mwilu, found it lacked jurisdiction under Article 163(4)(a) of the Constitution.
- The dispute originated when the Retirement Benefits Authority (RBA) dismissed retirees' claims, leading them to the Tribunal, which ruled in their favor.
- The CoA upheld the Tribunal's decision, emphasizing trustee duties in pension fund management and mandating the bank to compute and disburse the pension dues.
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Kenyan Authorities Take Action on Corruption, Fraud, and a Pension Dispute - September 2025
The Supreme Court of Kenya dismissed Standard Chartered Bank Kenya’s final appeal in a longstanding pension dispute, upholding a ruling that mandates the bank to refund billions in pension surpluses and recalculate benefits for 629 former employees. The court dismissed the bank's bid to halt a Court of Appeal ruling ordering the payment. In a separate case, former Migori Governor Okoth Obado is set to have corruption charges withdrawn after agreeing to forfeit assets valued at KSh 235 million in a plea deal concerning the alleged misappropriation of KSh 73.4 million. Additionally, the Kenya Revenue Authority (KRA) successfully thwarted a Sh123 million tax fraud attempt involving 161 containers of rice at a Mombasa Container Freight Station. Amidst this, the Institute of Certified Public Accountants of Kenya (ICPAK) is intensifying efforts to remove unqualified individuals from accounting positions, following revelations of widespread fake certificates in the civil service.
