SA pension lawsuit gains support

clock •

SOUTH AFRICA - The Federation of Unions of South Africa (FEDUSA) has declared its support for a lawsuit against Investec Employee Benefits (IEB), in which the South African Equity Workers Association (SAEWU) is seeking R4bn (US$470m) over allegations IEB mismanaged investments purchased with pension fund money.

FEDUSA and SAEWA met South Africa's Financial Services Board, which regulates the retirement industry, on Thursday and has also requested a meeting with the Minister of Finance to discuss the union...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on South Africa

South Africa

Franklin Templeton appoints Africa head

SOUTH AFRICA - Asset management firm Franklin Templeton Investments has named Jo-Anne Bailey as director of its African division.

Jaishree Kalia
clock 03 November 2011 •
South Africa

Comment: High-octane ESG

Last month I attended the Principal Officers Association Winter Conference in Johannesburg. The conference touched on many subjects: trustee education, transition management, etc. But the subject that seemed to ruffle feathers the most was incorporating...

Raquel Pichardo-Allison
clock 06 July 2011 •
South Africa

South Africa: ESG takes centre stage with new regulations

Raquel Pichardo-Allison reports on the environmental, social and governance factors affecting South African pension funds

Raquel Pichardo-Allison
clock 06 July 2011 •
Trustpilot