A group of former Standard Chartered Bank Kenya (SCBK) employees have asked the UK’s financial services regulator to compel the lender’s British parent to act on their claims for past undervalued pensions, citing frustration in their engagement with the Kenyan subsidiary.
The group numbering 325 is seeking pension on the same terms as the 629 former workers who recently won a Supreme Court case affirming a Retirement Benefits Appeals Tribunal (RBAT) award against the lender for their dues estimated at about Sh7 billion.