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Teleposta scheme dodges Sh13bn bill after 15-year court battle
The High Court agreed with the decision of a tribunal that the TelPosta Pension Scheme had computed and paid retirement benefits in line with its Trust Deed and the Retirement Benefits Act.
TelPosta Pension Scheme has dodged a Sh13.4 billion pension liability after the High Court dismissed claims by former members for additional payout, ending a 15-year legal battle that had threatened to plunge the fund into a massive deficit.
The dispute revolved around allegations by past members that their retirement benefits had been under-calculated, leading to a claim initially quantified at Sh7.2 billion and later projected to rise to Sh13.4 billion due to accrued interest and the passage of time.
