The KPA board of trustees are Geoffrey Kavate (chairman), Dolorees Maikah, Emma Okello, Samuel Tawa, Consolata Lusweti, Mercy Kirui and Bernard Kibet (scheme administrator).
Members of the Kenya Ports Authority pension scheme have formed a task group that has former trustees who have provided an insight on where the scheme seems to be failing. A performance this has been high during and forms the basis that will be used by, members during the coming elections to elect trustees.
Meanwhile, the trustees from the members elected will have to demonstrate to the group how they acquired what is currently circulated in KPA.
The taskforce has already written to the managers of the scheme with the information and will proceed to seek legal redress on all parties. A paper to the KPA board on the same activities has been prepared.
According to a source, a former trustee of the scheme who lost in the recent election has prepared a dossier that is supposed to be handed over to the regulator.
The trustees from the member elected side have developed a tendency of blaming previous trustees, yet they are now deeply involved.
The current trustees can only do well as touts rather than being entrusted with the serious running of the scheme. With this, the administrator has formulated a well scripted plan to snare the trustees as he seeks total control of the scheme of which he has been successful.
Currently, there seems to be some infighting among the trustees over Sh40 million that seem to have been given out by the service providers. The money was demanded by the trustees for investing scheme funds with them. One trustee is currently putting up a palatial residence while another bought fleet of trailers.
Another trustee left employment. One independent trustee from one of the blue chip companies listed in the stock exchange seems to be behind the scheme together with the administrator.
The scheme put up a tender for the disposal of properties which interestingly not much is being mentioned about how much was realised to defray the actuarial deficit by the scheme.
Sources at RBA sometime back indicated that the regulator had ordered for a forensic audit on the Sh4 billion project at South C. Nothing much has come out and for KPA to sanitise it put up a tender for a forensic audit on the affairs of the pension scheme. It is said that this was a ploy to benefit those who wanted to know the actual position of the scheme and the properties the scheme owns.
The trustees of the KPA Pension Scheme both elected and board appointed seem to be on a spree of looking for avenues to enrich themselves fast before leaving office. The scheme has properties and money invested in various instruments as provided for in the RBA Act however same cannot be said for their fiduciary responsibilities.
KenyanHour 