Refilwe Moloto speaks to Open Secrets’ Researcher Michael Marchant this follows on the Financial Sector Conduct Authority’s directive to all pension fund administrators to urgently get cancelled pension funds reinstated by the courts if they found that they had been erroneously deregistered before 1 April 2018.
Between 2007 and 2013, more than 6,000 pension funds in South Africa were cancelled in a process littered with errors and oversights. Today, Open Secrets has written to five of the country’s largest pension fund administrators to demand swift action to reinstate pension funds that have been incorrectly cancelled. This is the first of many…
“I have saved enough to retire peacefully. But now I will turn in my grave because I will die in poverty.” This was said by Douglas Maila, a member of the Unpaid Benefits Campaign, at a protest outside Alexander Forbes demanding that it pay pensioners the benefits they are owed. Maila’s experience of contributing a…
Correspondence with the Financial Sector Conduct Authority Our letters to and from the Financial Sector Conduct Authority regarding cancelled pensions.