R6bn in mismanaged pensions: Workers lose out as employers fail to transfer contributions

28 Apr

Antoinette Slabbert

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Retirees of the Msunduzi Municipality who protested six months ago because they did not get the pensions they are entitled to.

Screengrab / Newzroom Afrika

NEWS

He contributed faithfully to his pension fund for nearly four decades, but when he retired, the money was gone. Claude Samuels, who worked for the Msunduzi Local Municipality in Pietermaritzburg in KwaZulu-Natal for 38 years, is one of thousands of South Africans who were put at risk by how their employers dealt with their pension fund contributions.

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