The move by the Retirement Benefits Authority (RBA) effectively disbands the scheme’s board pending appointment of an administrator within a month.
In a letter dated July 29 and signed by RBA chief executive Nzomo Mutuku, the pension scheme had not received Sh203 million from PCK by May 2016, with the debt now standing at Sh1 billion inclusive of interest.
The regulator has put Postal Corporation of Kenya Staff Retirement Benefit Scheme (KRSBS) under administration after it failed to collect Sh1 billion retirement benefits dues from Postal Corporation of Kenya (PCK).
The move by the Retirement Benefits Authority (RBA) effectively disbands the scheme’s board pending appointment of an administrator within a month.
