SA pension lawsuit gains support

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SOUTH AFRICA - The Federation of Unions of South Africa (FEDUSA) has declared its support for a lawsuit against Investec Employee Benefits (IEB), in which the South African Equity Workers Association (SAEWU) is seeking R4bn (US$470m) over allegations IEB mismanaged investments purchased with pension fund money.

FEDUSA and SAEWA met South Africa's Financial Services Board, which regulates the retirement industry, on Thursday and has also requested a meeting with the Minister of Finance to discuss the union...

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