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Originally published by Citizen DigitalSeptember 22, 2025
1h ago
Over 600 Ex-Standard Chartered staff issue demand letter in pension dispute
Over 600 Ex-Standard Chartered staff issue demand letter in pension dispute..
✨ Key Highlights
More than 600 former employees of Standard Chartered Bank Kenya are demanding compliance with court rulings in a protracted pension dispute, threatening contempt of court proceedings against top officials. They accuse the bank and its pension fund trustees of ignoring Supreme Court decisions and discriminating against retirees.
- 600 former employees (non-629 members) have issued a demand letter dated September 22, 2025.
- The dispute stems from the bank's alleged unlawful application of actuarial factors when transitioning staff from a Defined Benefit to a Defined Contribution Scheme on January 1, 1999.
- The Supreme Court upheld earlier rulings on September 5, 2025, finding in favor of the retirees.
- The bank is accused of contempt of court and has seven days to comply with demands, which include an independent valuation of the pension schemes as of January 1, 1999.
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