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{
    "id": 1494310,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1494310/?format=api",
    "text_counter": 27,
    "type": "other",
    "speaker_name": "",
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    "speaker": null,
    "content": "Hon. Senators, pursuant to Standing Order 232(1)(b), I hereby present a Petition that has been submitted by Mr. Fred Saweja and other petitioners regarding the winding up and liquidation of Technical University of Kenya's Staff Retirement Benefits Scheme (TUK-KSRBS). As you are aware, Article 119(1) of the Constitution states- “Every person has a right to petition Parliament to consider any matter within its authority, including to enact, amend or repeal any legislation.” The salient issues raised in the Petition are as follows- (a) That the Retirement Benefits Authority (RBA) which is mandated to regulate the pensions sub-sector in Kenya, petitioned the Milimani High Court in 2017 in the matter of insolvency of the Technical University of Kenya Staff Retirement Benefits Scheme case number HCIP/14/2017 to protect the scheme's members from losing their retirement savings. (b) That on 5th July, 2024, the RBA obtained orders from the Milimani High Court to wind up and liquidate the pension scheme which resulted in approximately 2,000 scheme members being at risk of losing their lifelong savings accrued from years of hard work and potentially downgrading them to a life of poverty in their later years. (c) That the scheme deducted members' contributions. However, these amounts were not remitted to the fund manager. (d) That some officials at the university through acts of commission or omission, failed to account for and remit the funds leading to uncertainty and distress amongst staff. Further, a number of officers have left service, and the ones in the office may not be familiar with the case: The electronic version of the Senate Hansard Report is for information purposes only.A certified version of this Report can be obtained from the Director, Hansard and Audio Services,Senate."
}