The Kenya Power and Lighting Company Staff Provident Fund (KPLC SPF) has issued a directive to 550 members, requiring them to update personal and financial information by March 22, 2022, to finalize claims before its planned closure on June 30, 2022, according to a notice published in daily newspapers on March 6, 2022.
The fund, which faced financial difficulties leading to its 2019 liquidation under appointed liquidator Anthony Muthusi, had previously resolved to dissolve its pension scheme in 2015. Members must submit identification documents, contribution records, and banking details to validate claims, with beneficiaries needing additional proof of deceased members' eligibility.
The notice clarified that only the listed 550 members are subject to the deadline, while others remain unaffected. A separate report highlighted that pandemic-related disruptions caused Ksh51 billion in losses to pension schemes nationwide in 2021, reflecting broader financial challenges facing retirement funds since the 2020 global health crisis.
Claims will be finalized by June 30, 2022, with validation updates beginning April 30, 2022. The fund's closure follows years of instability, including a 2016 incident involving Kenya Power workers repairing infrastructure, underscoring ongoing operational challenges.
