Transport pensions languish in unfinished ‘sustainable township’
The Transport Sector Retirement Fund has sunk R415m into the Lethabong Lifestyle Estate, expecting returns of 15%-32%. But no other investors have yet come forward with more money, and the R2.7bn project is woefully behind schedule
30 September 2021 - 05:00
The Transport Sector Retirement Fund (TSRF), the custodian of pension savings of 70,000 workers in the road freight and logistics industries, has invested almost 5% of its total capital into a beleaguered "sustainable township".
It’s a curious decision that may prove costly, not least because the housing project has raised far less money than initially planned — and is woefully behind schedule...
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