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Security guard pension board paid themselves for 493 meetings in a year | Business

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The Financial Services Tribunal says nine 'incompetent' members of the fund that oversees the retirement benefits of security guards paid themselves unjustified fees for pointless meetings. | JanTamb News24_Business

The Financial Services Tribunal has lashed out at former board members of the Private Security Sector Provident Fund , saying they abused their positions for self-enrichment by organising hundreds of pointless paid board meetings.

The fund oversees the retirement, funeral and death benefits for South Africa’s private security guards. It has around 330 000 members and assets in the region of R11.5 billion.for improper conduct, including holding needless meetings and ignoring procurement policies. The members were Cobus Bodenstein, Zithulise Mqadi, Marchel Coetzee, Anna Maoko and Jonnes Hlatswayo.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.

 

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