Former employees of Nakumatt Holdings and members of the fallen retailer’s staff pension scheme have been invited for discussion with the Trustees and the Liquidator on how to access their benefits.
This was announced though a notice by the Nakumatt Holdings staff pension scheme and confirmed by a direct source that spoke to The Kenya Times.
“We (Nakumatt Holdings Limited Staff pension scheme) are inviting the staff who had not collected their benefits to come and discuss the way forward with us,” they stated.
However, the source did not disclose the number of staff who were affected by the notice.
According to the announcement by the pension scheme, the staff are required to attend the meeting scheduled for November 24, 2023, in Midland Hotel, Nakuru.
“Members of the above scheme are invited to meet the Trustees and the liquidator,” the notice stated.
In addition, the meeting is scheduled to start at 9:00 am.
The Future of Pension Scheme Announced
Additionally, the fallen retailer’s staff pension scheme confirmed that the scheme was being closed for liquidation.
The former staff have been asked to carry along the necessary documents proving membership to the scheme.
“Please come with necessary documents to prove you were a member of the scheme,” the notice cited.
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About the Nakumatt Pension Scheme
In 2019, former employees of Nakumatt were dealt a massive blow after the Retirement Benefits Authority (RBA) announced that their pension scheme would be dissolved.
“The RBA has approved the winding up of the above scheme and Mr. Vincent Charles Karani has been duly appointed the liquidator of the scheme,” stated the RBA then.
Further, the shocking announcement raised fears that hundreds of staff saving with the scheme may lose money.
Notably, in 2020, Nakumatt creditors voted unanimously to dissolve the once giant retailer. This was after failed efforts to revive the supermarket chain.
The creditors involved in the liquidation included banks, suppliers and landlords who claimed Nakumatt Holdings Ksh38 billion.
Of note, the liquidation plan was presented by Peter Kahi, the court-appointed independent administrator of troubled retail chain.
However, in 2021, the High Court ruled against the liquidation of Nakumatt Supermarket.
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As the retailer faced its imminent collapse and liquidation in 2020, the former employees of collapsed Nakumatt supermarkets cried foul after working six months without pay.
Further, they claimed Ksh374 million in salary arrears, which was among the pressures that led to the collapse of Nakumatt Holdings.
