The Pension Fund Adjudicator and the Financial Sector Conduct Authority are concerned by the failure of some companies to contribute towards pension funds.
“That is a trend that we have been observing over the years and reporting on. If you look at the numbers will vacillate between 80% and 82% to the year end. March 2024 the number was 82% of matters finalised. We’re sitting, well dealt with in one way or another. An employer not having paid their contributions and that trend continues from April up to now. It’s exactly the same trend,” says Muvhango Lukhaimane, Pension Funds Adjudicator.
“So, I think I can probably speak to that specifically for you know, the umbrella fund business where we’ve seen something in the order at this point in time, something in the order of R20 million, you know towards taxes,” says Dumo Mbethe, Momentum Corporate CEO.
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