The High Court has suspended the Retirement Benefits Authority’s (RBA) decision to place Mumias Sugar’s #ticker:MSC staff provident fund under administration after the miller failed to remit Sh80 million for retirement benefits and group life cover.
High Court judge Lucy Njuguna allowed Mumias Sugar and the Mumias Sugar Company Staff provident fund’s application seeking to stop the RBA from appointing Roberts Insurance Brokers Limited as the provident scheme’s interim administrator. Justice Njuguna said she was satisfied that Mumias Sugar Company and the Mumias Sugar Company Staff Provident Fund had made a commitment to remit monthly installments needed to clear the unremitted arrears.
