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Originally published by Capital Business
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business
September 18, 2025
4h ago

Non-629 ex-StanChart pensioners want benefits re-calculation applied on them

Non-629 ex-StanChart pensioners want benefits re-calculation applied on them

  NAIROBI, Kenya, Sept 18 - Representatives of the non-629 pensioners of the Standard Chartered Kenya Pension Schemes are demanding equal treatment Kenya breaking news | Kenya news today |..

✨ Key Highlights

Former employees of Standard Chartered Kenya Pension Schemes, known as "non-629 pensioners," are demanding that a recent Supreme Court ruling, which awarded billions in underpaid benefits to a different group of ex-employees, also applies to their benefits recalculation.

  • The non-629 pensioners, including Davies Kajogu, Lawrence Aswani, Paul Wanyoike, and Atsyaya Onzere, insist their benefits should be recalculated due to flawed actuarial factors.
  • The Supreme Court upheld earlier rulings confirming wrong actuarial factors were applied, dismissing an appeal by StanChart.
  • The Deputy Chief Justice, Philomena Mwilu, stated the Supreme Court could not invoke Article 163(4)(a) of the Constitution based on mere allegations.
  • The pensioners threaten to petition the RBA under Section 46 of the Retirement Benefits Act for trustee removal if their demands are not met.
  • Standard Chartered Bank has already begun pension payments to the 629 former employees involved in the initial ruling.

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