Troubled ARM suspends staff pension as cash crunch bites

Pradeep Paunrana, ARM chief executive (left). Workers at the firm's milling plant in Athi River (right). FILE PHOTOS | NMG

More than 2,000 employees of the Nairobi Securities Exchange-listed cement maker ARM #ticker:ARM are facing a grim future following months of delayed payment of salaries that have stalled their pension and medical insurance benefits.

ARM stopped remitting staff pension contributions in June last year and has since moved to announce plans to officially suspend payment of the retirement benefits on June 30, 2018.

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