Posts tagged with 'pension fund'

 

SA Passes 1,000 Covid19 Deaths, But Are They Real? ANC’s Old Trick of Deliberately Mis-Classifying Cause of Death Surfaces Again…

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As South Africa becomes the 22nd worst affected country, only 4 positions below China, overtaking Netherlands and Sweden, who had no lockdown, stories are surfacing of the government deliberately classifying causes of death as Covid19 when they weren’t! However we have seen this old trick before, when the ANC deliberately mis-classified the death of people due to negligence in state hospitals, or from farm murders, in order to skew the real data and hide their incompetence and the silent genocide by deliberate negligence, that is taking place in SA. Are they even keeping track of demographic data in CCP-virus deaths given that it appears to have affected non whites worse in other countries?

The evil ANC regime might have been able to get away with silently skewing data on death certificates from hospital negligence
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According to research, many South Africans are ‘too broke to retire’

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A large number of South Africans earning at least R15,000 a month are delaying retirement because they simply can’t afford it, a survey found.

South Africans’ spending habits and aspirations were at odds with reality, a survey by money lender Wonga has shown.

Meanwhile, research also shows that many people are simply too broke to afford retirement.

According to the 2019 Old Mutual Savings and Investment Monitor’s latest findings, a large number of South Africans earning at least R15,000 a month were delaying retirement because they simply could not afford it.

The survey results showed that half of the country’s retirees were working for an employer, 36% had started a business post-retirement, while 13% continued to be self-employed or took up a position as a consultant.

“Including this demographic into our study, reveals the impact that many households suffer because they are financially under-prepared for their
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R65m laundered through one of SA’s biggest unions – deceased mine workers pensions plundered by Satawu

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Satawu was used as a conduit to launder about R65million in pensions allegedly plundered from improvished orphans of deceased mine workers.

City Press can today reveal that Bongani Mhlanga, the erstwhile owner of financial services group Mvunonala, allegedly used the SA Transport and Allied Workers’ Union (Satawu) as a conduit to move pension funds into his family’s trust and a company owned by him.

Details of the money laundering web are contained in a hard-hitting set of findings by forensic investigations firm SekelaXabiso Chartered Accountants.

In November 2017 Satawu’s interim task team commissioned the firm to look into the union’s finances for the period January 2012 to May 2015.

This followed the discovery of suspicious transactions which the report says had the hallmarks of “insider trading, money laundering, theft, fraud and corruption”.

In November 2017 Satawu’s central executive committee appointed a task
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R500m taken from the poorest of poor in SA – pension fund boss splurged R21 million of Amplats Group Provident Fund, belonging to orphans of mine workers, on luxury mansion

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Documents show how money belonging to dependents of deceased miners was splurged by executive on costly mansion.

A pension fund boss entrusted with looking after billions of rands allegedly splurged R21 million belonging to orphans of mine workers on a luxury mansion in a security estate in Alberton, Ekurhuleni.

Invoices obtained by City Press show that, in October and November 2016, Bongani Mhlanga paid for a property at the Meyersdal Eco Estate, apparently using money from, amongst others, the Amplats Group Provident Fund, which was managed by the Bophelo Beneficiary Fund (BBF).

Amplats contracted the BBF to manage more than R500 million on behalf of the dependants of its deceased employees, most of whom were mine workers.

A beneficiary fund manages pension benefits of deceased people on behalf of their dependants.

Documents City Press obtained show that, on November 15 2016, Mhlanga instructed an employee to pay R2.3 million into the trus
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