None
EN
Pension fund thieves belong behind bars
['Editorial Staff']
The Citizen
It is not a criminal offence for a company to not pay over its own contributions.
That’s because, make no mistake, these employers are guilty of a criminal offence under Section 13A of the Pension Funds Act, which prescribes how contributions and other benefits should be paid to a retirement fund.
ALSO READ: Financial distress no excuse for not paying over pension fund contributionsIn total, 5 830 employers were guilty of contravening the Act.
The numbers of non-compliant companies have swelled, following the inclusion of the Auto Workers Provident Fund and the Motor Industry Provident Fund.
NOW READ: Thousands denied pensions as employers fail to pay