Pensions administrator Laptrust has set aside Sh32.4 billion as potential losses from unremitted pension, signalling its worries about the continued trend of key contributors such as Nairobi County spending money deducted from workers as retirement savings.
The pension scheme discloses in the latest annual report that it has raised the loss provisions on unremitted pension, technically called expected credit losses from the contributions receivable to Sh32.4 billion in the financial year ended December 2022.
