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Posta provident fund calls out owners of unclaimed millions

cash

The Posta provident fund is set to be liquidated by end of next month. FILE PHOTO | NMG

The Posta provident fund, set to be liquidated by end of next month, says it is holding unclaimed cash running into millions of shillings belonging to 123 former employees.

Postal Corporation of Kenya Staff Provident Fund gave the former employees and relatives of those who may be deceased two weeks to present identification documents to any Post Office between November 29 and December 11 for verification.

The public notice by fund liquidator V C Karani and Associates said this will enable the office verify payment status ahead of the planned conclusion of the liquidation.

“All members or their dependents in the three categories (deceased, dismissed and retired members) are requested to carry along documents for verification of identity by trustees and the liquidator as well as provide current contacts to enable the liquidator confirm their payment status,” it said.

READ: Posta to dissolve provident scheme

The notice comes after the lapse of the October 31 deadline the Unclaimed Financial Assets Authority (Ufaa) had given State and private entities holding unclaimed funds to declare and surrender the same or risk penalties.

Top executives were warned they risked being fined or jailed for defying the law. Companies that declared but were yet to compute the figures were given two more months to comply.

Posta was one of the off-shoots of Kenya Posts & Telecommunications Corporation that employed over 20,000 employees. Others are Telkom Kenya and the Communications Authority.