StanChart fights new pension claim from 325 former staff

Standard Chartered Bank of Kenya Kenyatta Avenue branch in Nairobi.

Photo credit: File | Nation Media Group

Standard Chartered Bank Kenya (SCBK) has rejected a last-minute request by a group of 325 former workers to be included in payments for past undervalued pensions alongside their 629 colleagues who won a tribunal suit against the lender for their dues.

The former workers, who describe themselves as the “Non 629 Former Employees” in reference to those who were part of the tribunal suit, said in a letter to the bank dated June 5 that they were also in service at the time its pension scheme was changed from a defined benefit to a defined contributory scheme in 1999.

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