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Treasury Cabinet Secretary John Mbadi. [File,Standard]
National Treasury Cabinet Secretary John Mbadi has said that County Governments owe pension schemes a total of Sh115.7 Billion comprising principal interest, penalties and the actuarial deficit of this amount.
Mbadi told the Senate County Public Investments and Special Funds Committee that of this amount, Sh103.2 billion (91 percent) was owed by County Executives, Sh9.3 billion (6 percent) by water service providers and Sh3.2 billion (3 percent) by County Assemblies.
He said that the Multi-Agency Taskforce on Non-Remittance of deductions to pension schemes by county governments identified several outstanding administrative, financial, legal, regulatory, systemic and structural challenges that continue to hinder implementation of its recommendations.
