Pension funds | Over 5,800 employers in retirement fund arrears

JOHANNESBURG - Almost 6,000 employers are not properly paying retirement fund contributions.

The Financial Sector Conduct Authority has now published their names.

Over half of the companies fall under the Auto Workers and Motor Industry Provident Funds.

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Total arrears amount to R7.2-billion as of the end of March.

This includes almost R3-billion in late payment interest.

Most of the arrears have been outstanding for more than five months.

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