Ten counties have been cited for gross negligence because of reluctance or refusal to remit pension deductions to county pension funds.
The sums involved are huge – a staggering Sh65 billion in total.
Counties should know better than to gamble with the life savings or pension cash of staff that have spent their lives toiling with meagre pay under onerous economic conditions.
But it turns out governors, most of them third-rate politicians and poor money managers, have converted employee cash into secret loans to the counties without intending to pay interest on the sums.
This unscrupulous trend has been going on for years. With each year, the hopes of pensioners ever getting their cash when they quit work starts to look like a pipe dream.
The Treasury, as a matter of urgency, must take the relevant financial steps to correct the trend.
We suggest that these huge arrears be recovered at source and remitted to the county staff schemes.
The counties involved must be made to pay for their mismanagement of public financial affairs.
The offending counties must be slapped with a penalty which will bring about the type of financial pain they would rather avoid.
Quote of the Day: “To the wise, life is a problem; to the fool, a solution.”
Marcus Aurelius
The Roman emperor was born on April 26, 121 AD
