Edermann Property Limited has offered to seek an outof court settlement as an alternative method to solve the dispute which has beenunsolved for over 10 years.
The dispute arose after Kenya Railways Corporation(KRC) and Kenya Railways Staff Retirement Benefit Scheme (KRSRBS) startedselling land that the real Estate company had tendered and won and was ready toput in an investment of over Sh 40 Billion together with its partners.
In the latest move, Edermann extended an olive branchto KRC and Kenya KRSRBS in a bid to stop the suffering of the pensioners whohave spent millions of monies in court after the plight of pensioners waspublished in the media and they empathized with the pensioners.
" We are very happy and we feel relieved after a long-protractedcourt battle which has lasted in court for many years. We are looking forwardto more fruitful deliberations." Pensioner John Ndege said.
Ndege said that the move by Edermann to offer an Olivebranch has brought a sign of relief to pensioners.
The retiree further said that the move by EdermannProperty Limited to withdraw its claim of Sh 26 Billion that they had lodged incourt after a tender dispute was geared towards helping pensioners whose liveshad been seriously affected.
He called on all affected pensioners to be optimisticas the move could be a light at the end of the tunnel that would bring to anend the sufferings of the Pensioners.
In 2012, High Court Judge Eric Ogolla reduced theinjuncted properties to four from the over twenty that had been injuncted byJustice Alfred Mabeya.On May 2020, Kenya RailwaysCorporation retirees urged the government to intervene and ensure their monthlypension is paid.
John Mwangi, who led a group of retirees said heretired in 1998 and the pensions were regularly paid until 2007.Then, Mwangi said, Kenya Railways Staff RetirementScheme (KRSBS) had assets worth Sh12.6 billion.
“When the government could not continue paying us, ittransferred some of the properties owned by KRC to the scheme,” Mwangi said.But the scheme was only able to make Sh 24 millionmonthly against pensions amounting to Sh 73 million for 10,000 members.
Since then, Mwangi said the scheme has not been ableto break even and has been defaulting on their payments for months.
This, he said, is even after selling some of theproperties and renting out commercial buildings.
“The scheme has not been able to liquefy its assets topay our dues, and we are unable to follow up and find out what’s happening,” he said.
The scheme’s board comprises three governmentappointees, three appointees of KRC and three members, he said, a structurewhich does not serve the pensioners.
The retirees wanted a small amount of their pensionpaid every month rather than wait for one year.
