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HomeWealthKBC Facing Closure Over KSh 10 Billion Unremitted Pension

KBC Facing Closure Over KSh 10 Billion Unremitted Pension

State Broadcaster, Kenya Broadcasting Corporation (KBC) is facing closure over unremitted pension and lost income of over 10 years.

This is after the Labour Relations Court gave the broadcaster’s employees a go ahead to recover KSh 10 billion pension arrears.

KBC argued that payment of the required amount at once will force the broadcaster to halt operations since it may not be able to pay salaries and meet other financial obligations.

In his ruling, Justice Maureen Onyango faulted KBC for failing to remit the money to the KBC Staff Retirement Benefits Scheme as required by the Retirement Benefits Act.

“I find that KBC having made the requisite deductions from its employees’ salaries, it had a duty to remit such funds to the Scheme within 15 days

“KBC has continuously failed, ignored or refused to make the requisite remittances despite the agreements with the Retirement Benefits Authority as well as the court (earlier) ruling delivered on May 15, 2020,” said Justice Onyango.

KBC failed to explain whereabouts of the funds deducted monthly from its employees’ paychecks.