South Africa’s financial regulator has raised the alarm after unpaid employer pension contributions rose to R7.29 billion in the 15 months to March 2025. According to Bloomberg reports the Financial Sector Conduct Authority (FSCA) said 15 521 entities failed to pay staff contributions. Leaving about 592 000 workers across 67 retirement funds affected. ‘When contributions are deducted from salaries, but not remitted to the relevant funds, it constitutes a serious breach of judiciary responsibility and ethical responsibility,’ said Kamlana. The FSCA warns that low pension incomes will raise the risk of poverty in old age.