StanChart to resume pension verification after Court lifts freeze
NAIROBI, Kenya, Oct 6 - The Standard Chartered Kenya Pension Fund will resume the verification exercise for 629 appellants in the long-running 2021 Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Standard Chartered Kenya Pension Fund will resume verification for 629 appellants in the 2021 pension dispute after the High Court lifted a temporary injunction. This allows the process to move forward following a Supreme Court ruling that upheld the appellants' claim for recalculated retirement benefits.
- The verification process will occur from October 6 to 9 and on October 13, daily from 9 a.m. to 4 p.m., at Almary Green Business Park in Nairobi.
- David Ong’olo, Fund Chairman, announced the resumption, confirming the fund's commitment to a seamless process.
- The dispute involved the computation of retirement benefits after the bank converted its pension scheme in 1999, with a ruling in April 2022 directing recalculation to include cost-of-living adjustments, housing allowances, and other benefits, plus the return of over Sh1.1 billion in "surplus funds."
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