We want part of pension case, say staff

County government employees want to be enjoined in a suit where the Retirement Benefits Authority (RBA) has been accused of interfering with the management of their pension scheme.

Through their lobby, the Kenya County Government Workers Union (KCGWU), the employees told Judge Weldon Korir on Monday that the issues raised in the application are of concern to their members as far as transparency, accountability and decision-making process are concerned.

CERTIFICATE OF URGENCY

The application against RBA was filed by CPF Financial Services Ltd a under certificate of urgency after the regulator ordered its closure on September 4 and directed the pensions firm to surrender its certificate of registration for destruction.

CPF Financial Services Ltd, the successor of the defunct Local Authorities Pensions Trust Fund (Laptrust), is currently the entity tasked with regulation of the establishment, management and administration of pension fund schemes for county government employees.

The KCGWU national branch and its affiliates, who are by extension members of Laptrust, said the management and administration of county workers pension is a matter that must be taken seriously by all stakeholders.

RESISTING SUPERVISION

“It is our own understanding as a union that the regulator of pension schemes in Kenya is RBA. We understand that it plays a supervisory role of all players,” KCGWU said in its court papers.

The union is concerned that CPF Financial Services Ltd is resisting supervision and fighting regulatory action taken to safeguard the rights of pensioners.

KCGWU also said that it has not been adequately allowed to take part in decision-making process affecting policies of the pension scheme.

It added that members do not have access to audited accounts of the scheme.

The case will be heard on October 13, 2014.