After allegations emerged in court of yet another scam that Regiments Capital used to plunder a Transnet pension fund, Regiments directors quickly agreed to pay half a billion rand to settle all the fund’s claims against it. But Eric Wood, a former director, has gone to court to quash the deal, claiming his former colleagues..
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Regiments Capital used to plunder the Transnet pension fund – R349m ‘stolen’ from pensioners in four days
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Thank you SA for voting ANC – SA is broke thanks to the thieving done by ANC cadres in government
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It’s official: the South African state is bankrupt. President Cyril Ramaphosa confirmed it three weeks ago when he responded to questions in parliament. Ramaphosa’s exact words were: “Our resources are now depleted.” In simple terms, this means the government has run out of money. In a normal country, such a statement by the head of..
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Ramaphosa lets the cat out of the bag: The bad news: ‘Our money’s up’
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Ramaphosa acknowledged in parliament on Thursday that South Africa’s financial resources were depleted while the country’s development needs were enormous. He did not say straightforwardly whether he supported “prescribed assets”, he said later, the pension fund industry and other stakeholders needed to talk about using pension fund assets to support the country financially. The country’s..
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PENSION FUND NEW PIGGY BANK FOR ANC-REGIME TO EMPTY
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There are speculations in government circles that the Trillion Rands currently in pension fund managers’ hands should be used to get South Africa out of its financial predicament, and not just to use the Eskoms, SAA, SABC etc. But believe me there are many other obscure motives behind the discussed move. When the IMF joins,..
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The ANC is coming for your pensions to fund bankrupt SEO’s
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Well-known economist Mike Schussler has warned that the ANC wants to use your pension money to fund bankrupt state-owned enterprises like Eskom and SAA. Speaking on The Big Liberty Show, Schussler said the planned prescribed assets policy will give politicians control of pension funds and where this money is invested. The policy of prescribed assets..
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The ANC regime now wants to loot your pension money to save their struggling state entities
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TAU SA expressed concern about the statements made on public forums by the ANC government where advocacy is being made to use SA’s pension capital for investment in so-called fixed assets. The size of the exit funds can make a huge impact on the national economy; according to the 2017 annual report of the pension..
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The corrupt ANC government plans ‘could collapse pension funds, with pensioners dying poor’
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The party’s manifesto hints at targeting pensions through prescribed investments, ‘which will see half the population’s money used to bail out failing entities like Eskom’. The prescribed investments for pension funds hinted by the ANC in its 2019 election manifesto could lead to the collapse of South Africa’s pension funds and pensioners dying poor. Explaining..
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The ANC is coming for what’s yours! South African pensioners’ biggest fear has now become a reality – Pensions now need to fund bankrupt government’s state entities
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With the ANC’s launch of their election manifesto, it was debated that Treasury should see if pension funds cannot be used to help the bankrupt state entities. Meanwhile, Mark Barnes Chief Officer at the Post Office and said it would be a big move for the country. The prospective pensioners as well as current pensioners’..
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Pension funds as much as R560 million may be lost due to fraudulent activities
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BEE administrator loses millions of pension funds – Pension funds of Anglo Platinum, invested in the (BBF), administered by Bophelo Benefit Services, a subsidiary of Mvumonala Holdings, may be lost due to fraudulent activities. It is estimated that as much as R560 million can be involved. Apparently, the company ‘cooked’ its 2016 financial statements to..
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