Whistle-blower turned activist Rosemary Hunter lost her legal battle to force the pension funds’ watchdog to do more work investigating the closure of dormant pension funds. The case relates to a project by the then Financial Services Board (FSB), which saw the cancellation of more than 4,600 dormant retirement funds between January 2007 and December 2013, moving all their assets to unclaimed benefits funds. In September 2017, the FSCA said there were R42bn unclaimed benefits in SA. These funds are administered by various private and public sector funds. Hunter approached the Constitutional Court for leave to appeal earlier judgments made by the high court in Pretoria and the Supreme Court of Appeal in a bid to compel the FSCA to do more investigations into the funds cancellation project. Five of the eight judges ruled against her. This means that thousands of people who had their benefits moved to various public and private sector unclaimed benefits funds will likely never recoup t...

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