Govt Warns of New Fraudsters Targeting Pension Schemes; How to Protect Your Wealth
Kenyans have been warned over increased cases where pensioners and their relatives are being conned millions of shillings.
According to the Pensions Department under the Treasury Ministry, fraudsters are targeting Kenyans seeking pensions, promising to hasten the process.
The department on February 23, warned Kenyans that no one was authorised by Treasury to act as a third party.
“It is regrettable that most pensioners or their relatives have been conned millions of their money by fraudsters who pretend to be in a position to help them,” Geoffrey Kibanda, an officer at the Pensions Department warned.
Treasury PS Chris Kiptoo (left) during a familiarization tour of the Pensions Department on January 20, 2023.
While sensitizing the public in Iten, Elgeyo Marakwet County, Kibanda enlightened Kenyans on how to protect their wealth.
The official revealed that Kenyans upcountry do not have to travel to Nairobi to access the funds.
He announced that the government had already digitized the process and that it was readily available on the Huduma Kenya website as well as Huduma’s physical offices across the country.
Kibanda further advised that Kenyans should make sure they utilize the services of administrative chiefs to ensure no beneficiary was left out.
“The national government administrative office has a wide network and therefore as chief one is able to consult even with their colleagues outside their areas of jurisdiction before signing the form to ensure that no beneficiary is left out,” he explained.
The department further outlined reasons why pension fund payments could be delayed.
“When a civil servant has another wife or children out of wedlock who are not listed as beneficiaries can delay disbursement of the funds,” Kibanda warned.
The Pensions Department has called upon civil servants to ensure that their records are up to date and that they are enrolled to the new pension scheme.
Under the government’s reforms, pensioners or their relatives will be receiving their funds 30 days after submitting an application.
The CBK Pension Towers in the Nairobi Central Business District, located along Harambee Avenue.