1 reviews | Active since Nov 2019
Pension fund *******ion
My Father was employed by the city of Johannesburg from 1987 - 2003. The administrator of the pension fund was old Mutual up to the end of 2001. The funds were invested under defined benefits.
In the beginning of 2002 they were transferred to e-joburg, funds were invested under defined contributions. These are substantially reduced as compared to defined benefits.
In 2008 the City of Johannesburg paid the deficit owed to the members. When the respective deficits were paid, the correct values were allocated to all impacted members including members who had already exited the fund. Unfortunately my Father is one of the members who have not been paid the deficit money to date.
Please could this matter be resolved speedily as it has been many ears with no resolution.
