Kenya Power and Lighting Company Staff Provident Fund (KPLC SPF), which is run by the troubled Kenya Power Company,has issued an ultimatum to some of its members before it permanently shuts down.
In a notice carried in the dailies on Sunday, March 6, the Fund indicated that it was slated to shut its operations mid-2022 and was seeking to settle all members' claims before June 30, 2022.
In the notice, KPLC SPF published the names of the 550 members directed to update their details before Tuesday, March 22, 2022, as the entity finalizes the process of winding up.
The Fund ran into financial headwinds before it was placed under liquidation and overseen by Anthony Muthusi in 2019.
"Prior to 2015, the KPLC Operated a staff pension called KPLC SPF. The Board of KPLC resolved to dissolve this fund and in October 2019 Anthony M Muthusi was appointed liquidator of KPLC SPF.
"The liquidator wishes to settle all claims of the Fund members by June 30, 2022, and close the Fund forthwith. Notice is therefore issued to the fund members listed to update their details with the Fund to facilitate a speedy completion of their respective claims against the Fund," read the statement in part.
The members are expected to provide personal information to facilitate the process, including full names and attach supporting documents such as National Identification cards as well as their provide particulars of their claims against the fund.
Other requirements include proof of membership backed by contribution slips as well as Fund statements, their contacts including a mobile phone number and email address as well as banking details.
In case the claimant is a beneficiary of the Fund, they are expected to provide supporting evidence including the deceased member's proof of membership as well as the deceased's death certificate.
The notice further stated that details regarding the validation of the claims will be communicated to members beginning Saturday, April 30, 2022.
The Fund, however, clarified that those members not listed in the notice are not affected with the ultimatum.
In November 2021, the Retirement Benefits Authority (RBA) indicated that pension schemes across the country lost Ksh51 billion due to the pandemic that hit the country from early 2020.
