Crisis as unremitted workers’ pension hits Sh42bn

The National Treasury building in Nairobi.  

Photo credit: File | Nation Media Group

Thousands of workers at cash-strapped parastatals risk retiring empty-handed after their employers failed to remit monthly deductions to pension schemes, the National Treasury has warned.

The Treasury in the latest disclosures says struggling state-owned entities had not remitted nearly Sh42.06 billion in employer contributions at the end of last financial year.

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Note: The results are not exact but very close to the actual.