Live Breaking News & Updates on Magareng Waterworks

Stay updated with breaking news from Magareng waterworks. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

1 600 municipal employees' pensions have lapsed due to 'non-payment of pension fund contributions'


Several municipalities across the country have defaulted on paying workers
pension contributions to their respective pension funds.
Finance Minister Tito Mboweni said municipalities in the Free State, North West and Northern Cape were mostly affected by the default in pension fund contributions.
The DA said it would lay charges against the involved municipal officials.
While governance failures have all but decimated some of the country s poorest municipalities, errant officials have not been paying millions in employer contributions to workers pension funds, a parliamentary reply has revealed.
Due to the failure to transfer pension fund contributions, about 1 600 municipal employees pensions have lapsed, and 64 employees are unable to retire because they are precluded from accessing retirement funds. ....

South Africa , Western Cape , South Africa General , Kwazulu Natal , Sundays River , Eastern Cape , Great Kei , Free State , North West , Northern Cape , Beyers Naude , Walter Sisulu , Tito Mboweni , Samantha Graham , Samwu Provident Fund , Pensions Fund , Financial Sector Conduct Authority , National Treasury , High Court , Minister Tito Mboweni , Finance Minister Tito Mboweni , Municipal Finance Management Act , River Valley , Walter Sisulu Local Municipality , Pensions Fund Act , Draft Conduct Standard ,