FSB in hot water over cancelled pension funds
A SENIOR Financial Services Board (FSB) employee is taking the regulator to court over alleged irregularities concerning the cancellation of the registration of thousands of retirement funds worth billions of rand.It is feared the cancellations were irregular and may have deprived beneficiaries of benefits.The FSB is expected to oppose Rosemary Hunter’s application.Ms Hunter is a pension law expert who has worked as the FSB’s deputy registrar of pension funds since 2013. Her contract expires at the end of July.She alleges in her affidavit that there were efforts to remove her from the job, including offering her a golden handshake worth about R6m. She alleges that some people, including FSB executive officer Dube Tshidi, wanted her out of the FSB to prevent her investigation into the irregularities concerning the registration cancellations.According to Ms Hunter’s court papers, the cancellations project was initiated by the Registrar of Pension Funds to procure the cancellations of ...
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