JOHANNESBURG - Regulators have again urged workers to ensure their retirement contributions are being paid over by their employers.
The Financial Sector Conduct Authority says employees often receive the shock of finding their pension funds have gone AWOL when they apply for a two-pot retirement fund withdrawal.
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More than half a million South Africans have discovered that funds that are being deducted from their salaries are not being paid over to retirement funds.
More than 16 000 employers have now been flagged for not paying.
The regulator has calculated that R8.3-billion in pension funds is owed, which includes penalties for interest that has not been earned