A subscriber holds a 4G Telkom SIM card in Nyeri town on September 1, 2020. Retirees of Telkom Kenya are seeking over Sh13 billion of withheld pension from the state-owned firm, a sum that the company says it cannot pay in whole.
Firm says it fears its pension scheme will collapse if forced to pay the entire sum.
Although the financial claim amounting to Sh13.9 billion has been confirmed by the trustees of the Telposta Pension Scheme, they have asked the High Court to decline the retirees’ push for payment.
The money has increased due to interest. According to Mr Raichura, as at June 30, the pensioners’ dues had increased to Sh11.5 billion and by October 3, this had risen to Sh13.9 billion.
Retirees of Telkom Kenya are seeking over Sh13 billion of withheld pension from the state-owned firm, a sum that the company says it cannot pay in whole.
Telkom fears that its pension scheme will sink into financial distress and be wound up should the retirees be paid the money demanded.
