Authorities take aim at pension pilferers
Authorities are targeting municipalities that deduct employee contributions but neglect to pay them to retirement funds
23 March 2025 - 09:12
The financial services regulator, with help from the auditor-general (AG), is going after municipalities and their officials who deduct pension contributions from their employees but fail to pay them over to the relevant retirement fund.
This could see affected municipalities lose their equitable share allocations and officials responsible for the deduction of monies not paid over to pension funds sanctioned in their personal capacities...
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