Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1411809,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1411809/?format=api",
    "text_counter": 201,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "made. The PPCK’s Board of Directors, at a meeting on 6th May 2022, passed a resolution that approved a transfer of 13 non-core assets valued at Ksh1,151,792,000 to the official receiver to settle long outstanding dues to pensioners and beneficiaries of the Pyrethrum Board of Kenya Staff Superannuation Scheme. The Attorney-General vide letter WC24/2012 dated 23rd May 2022 supported the transfer of non-core assets of PBK to pay pensioners. Subsequently, the National Treasury vide letter TNT/PENS/12/5 dated 19th August 2022 advised that the transfer of 13 earmarked parcels of land to the official receiver to offset their pension deficits awaits a decision of the Cabinet. The National Treasury vide a letter TNT/PENS/12/5 dated 15th February 2024 requested the Cabinet Secretary, Ministry of Agriculture and Livestock Development, to initiate a Cabinet Memorandum to facilitate the transfer of identified non-core assets of PPCK formally PPK to offset pension deficits. The National Treasury is concerned about the suffering of this group of beneficiaries who have visited us to follow up on the status of pension dues. The last visit was on 31st January 2024. Towards addressing this kind of situation, now and in the future, the National Treasury, as a matter of principle and policy, requires all Government entities to manage their liabilities without recourse to the national Exchequer. It is on this basis that all pension schemes sponsored by State Corporations were converted, at the beginning of the 2010/2011 Financial Year, from defined benefits to defined contribution schemes. This is in order to minimise liabilities of State Corporations and, by extension, contingent liabilities to the national Exchequer. In conclusion, the National Treasury and Economic Planning remains available to support the Committee when called upon to respond in respect to the settlement of pension dues to the PPCK pensioners."
}