Pyrethrum Processing Company of Kenya (PPCK) property at Milimani Estate in Nakuru on October 15, 2019. The Standard has established that lack of management boards at the Agriculture Food Authority (AFA) that was managing the pension scheme and the Pythrethrum Process Company have delayed liquidation of the scheme. Three years down the line, the scheme beneficiaries are yet to realise their expectations,” the petition read in part. The Treasury, in response in a letter dated December 24, 2019, maintained the government could not fund AFA and gave an advisory that PBK assets held by the authority be sold. "The National Treasury recommends the PBK staff pension scheme deficit be funded using the balance sheet (assets) of the sponsoring entity (AFA),” read a letter addressed to the Ministry of Agriculture.

Source: Standard Digital June 15, 2020 17:48 UTC