2,600 Telkom Kenya retirees to get Sh7.2bn payout
17 February 2017
More than 2,600 former employees of Telkom Kenya are set to be paid an additional Sh7.2 billion in terminal dues following a court ruling in their favour.
A four-member Retirement Benefits Authority tribunal (RBA) established that the 2,613 retrenched workers of the former State agency had been underpaid their pensions by the Trustees of Teleposta Pensions Scheme and Provident Fund, which they were members of.
Tribunal members concurred with lawyer Titus Koceyo for the retrenchees that they were not paid in accordance with the prevailing trust deed and schemes rules.
Therefore, the trustees were directed to pay interest on the sums payable to each retrenchee from the date of exit until payment in full “which shall not be less than the investment interest declared in the years that the benefit has remained due.” Read the full article in Business Daily here.