It is extraordinary to see how pension industry insiders leap to defend insurance behemoth Liberty Life for its scandalous handling of the unlawful cancellation of hundreds of pension funds.

A recent investigative report by Open Secrets, "The Bottom Line", revealed how Liberty accounted for 80% of the funds cancelled in an unlawful and error-strewn "cancellations process" run by the then Financial Services Board (FSB) up to 2013. Our report distinguished between the broader R50bn problem of unpaid pension benefits, and the worrying case of the pension funds cancellation...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now