The Standard Chartered Bank (Stanchart) has issued a public notice to 629 staff involved in a landmark pension case, notifying them of the process to claim payouts following a court ruling.
The payouts, valued at Ksh 7 billion, stem from Retirement Benefits Appeals Tribunal (RBAT) Appeal No. 8 of 2021.
The case, Abdalla Osman & 628 Others vs. The Retirement Benefits Authority & 11 Others, saw staff successfully petition the court, arguing that their pension savings were undervalued when the bank’s scheme converted from a defined benefit to a defined contribution plan.
In a notice issued on Thursday, September 11, the bank stated that it will begin collecting the necessary information for verification and processing of claims on Monday, September 22, 2025.
Standard Chartered Bank Directs 629 Staff on Ksh 7 Billion Pension Payout
The exercise will take place at Almary Green Business Park, Nairobi, off U.S.I.U Road, near the Thika Superhighway.
“Pursuant to the Judgment of the Retirement Benefits Appeals Tribunal No. 8 of 2021: Abdalla Osman & 628 Others vs. The Retirement Benefits Authority & 11 Others dated 28 April 2022 (hereinafter referred to as the ‘judgment’) and the directions issued by the Retirement Benefits Appeals Tribunal on 22 May 2025 in respect of the computations to be paid out to the Appellants in the case, we wish to notify all Appellants in the case as follows,” read the notice in part.
“We will commence the process of collecting the requisite information of the Appellants in the above appeal for the purpose of verification and subsequently processing claims arising out of the judgement from Monday, 22 September 2025.”
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Documents to be Submitted
All Appellants in the appeal are required to appear in person on weekdays between 9 a.m. and 3 p.m., bringing the specified documents.
This includes the original National Identification Card, Kenya Revenue Authority (KRA) PIN, and an original debit card or a cancelled cheque to verify bank account information.
Appellants must also provide proof of employment with Standard Chartered Bank Kenya Limited, including any relevant documents such as:
- Pension statement
- Letter of employment
- Last payslip or P9 form
- Exit letter or certificate of service
A certificate of existence (where applicable) and two recent colour passport-size photos are also required.
For deceased appellants, estate administrators or executors must present:
- Original death certificate
- Original letters of administration or grant of probate
- Court-certified copy of the letters of administration or grant of probate
- Proof of relationship to the deceased (e.g., birth certificate or marriage certificate)
- Proof of employment with Standard Chartered Bank Kenya Limited, including any relevant employment documents listed above
Dependants or beneficiaries will be required to bring:
- Original National Identification Card
- KRA PIN
- Original debit card or cancelled cheque to verify bank account information
- Certificate of existence (where applicable)
- Two recent colour passport-size photos
Appellants must bring two copies of each original document to facilitate the processing of claims arising from the RBAT judgment.
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“We are committed to ensuring a seamless verification and payment process for the 629 Appellants in RBAT no. 8 of 2021,” the bank said.
The KSh 7 billion payout represents a significant portion of the bank’s earnings, equivalent to 86.6 percent of its KSh 8.08 billion half-year net profit to June 2025 and about 50 percent of the record KSh 13.9 billion dividend paid last year.
Standard Chartered Kenya ended the six months to June 2025 with a core capital of Ksh 56.2 billion, reinforcing its ability to meet the tribunal’s financial obligations.
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