Retirement fund arrears rise to R8.33bn despite R1bn in recoveries
Late-payment interest now accounts for almost half of arrears, suggesting unpaid contributions are remaining outstanding for longer.
#unpaidcontributions
Retirement fund secures R14m order against municipality and its officers
The High Court describes the municipality’s persistent challenges to the fund’s applications as an example of the destruction of the country’s constitutional ethos.
Directors found liable for unpaid retirement contributions
The Engineering Industries Pension Fund and the Metal Industries Provident Fund use the personal liability provisions in the Pension Funds Act.
Arrears in local government sector reach alarming levels
58% of South Africa’s municipalities – 149 out of 257 – are behind on their retirement fund contributions, highlighting a growing issue in local government finances.
Adjudicator to propose holding trustees personally accountable for non-payment of contributions
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
