Cyprian Is Nyakundi
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Abuse of Office GDC Pension scheme

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As at today over 350, Nakuru Staff at Geothermal Development company have ganged up and signed a petition to their CEO and copied the RBA complaining how the scheme is run and operated. In an email to the CEO, the staff are complaining about

1. The illegal composition of the scheme where the sponsor maintains 80% of the composition and members 20% yet the act states it should be 50:50

2. Abuse of term of office where the Chairman one Godfrey Shitsama has been in the office since the inception of the scheme. This is against the trust deed and article 10: National values and principles of governance.

3. The Auditor at the same time has never been changed. The members have gone up in arms requesting through you for the intervention of the DPP and DCIO for forensic audit since they fear for the security of their future. Together with the disbandment of the sponsor composition since they no longer have confidence in the trustees.

Regards



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