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Posta provident fund names owners of unclaimed millions

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Monies qualifying as unclaimed assets include uncollected pay and benefits, pensions, unit trusts, matured policies, dividends, cash in dormant bank and sacco accounts as well as mobile money wallets. FILE PHOTO | NMG

The Posta Provident Fund is looking for 79 ex-Postal Corporation of Kenya employees whose millions of shillings remain unclaimed at the firm now in liquidation.

In a public notice where the names of the 79 beneficiaries were published last Friday, Postal Corporation of Kenya Staff Provident Fund’s liquidator VC Karani and Associates said the retired workers or their relatives should visit their nearest post office branch to lodge the claims.

“Members or their dependents who left service on various grounds are requested to present themselves to the indicated nearest post office branch to enable the liquidator to confirm their payment status to facilitate processing of their claims,” it said.

VC Karani said each claimant should make available the original and a copy of their identity card, PCK documents as well as a Kenya Revenue Authority PIN or in case of deceased retirees, relatives should present a copy of the retiree’s death certificate, administration letters or letter from their area chief, employment documents from former employer and any other legal documents.

The affected retirees are drawn from the three categories including deceased, dismissed and retired members.

The fund’s move follows a warning by Unclaimed Financial Assets Authority (Ufaa) to government agencies and private entities that funds belonging to Kenyans that remain uncollected for two years is declared and surrendered to the agency.

According to the Ufaa Act, bosses of State agencies and firms risk being fined or jailed for failing to file an unclaimed monies report by October 31 of every year and that each should surrender the monies — indicating nature of payment, the identity of claimants and their contacts.

Monies qualifying as unclaimed assets include uncollected pay and benefits, pensions, unit trusts, matured policies, dividends, cash in dormant bank and sacco accounts as well as mobile money wallets.