Former Nakumatt staff members to receive pension benefits
Published on: November 05, 2020 05:03 (EAT)
Former staff of the now defunct Nakumatt Holdings are expected to receive their pension benefits as the employees’ pension scheme at the ex-retailer is liquidated. In a notice issued on Wednesday, VC Karani and Associates urged scheme members yet to receive or transfer their benefits to contact their offices within the next 30 days. Former staff members aged above 50 and the beneficiaries of deceased scheme members are expected to receive payments from the scheme while members below 50 years of age will be required to transfer benefits to new schemes. The ex-Nakumatt staffers are however set to go without 18 months of benefits representing unremitted funds by their former employer. Staff are however hopeful of recouping the missing benefits via the ongoing liquidation of Nakumatt Holdings In Receivership. “Staff are expectant that the sums paid out will check out with statements in their possession. In the case of the unremitted funds, we are hopeful that RBA’s appointment of the pension scheme liquidator will allow us to recoup our hard earned savings,” said Harrison Nyando, a Chairperson to the ex-staffers. According to data obtained by Citizen Digital, the pension scheme has 6990 members from which 3252 are yet to transfer benefits to other pension schemes. 3490 members have already transferred their benefits while a balance of 242 represents retirees.