Trustees told to recover 'secret' administrator profits

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SOUTH AFRICA - Trustees have a duty to recover profits made by pension fund administrators that have not been disclosed to pension schemes, the pension funds adjudicator (PFA) has ruled.

Last week, adjudicator Mamodupi Mohlala overruled a decision by the trustees of the Irvin & Johnson retirement fund to ratify the conduct of pension administrators NBC retrospectively. Irvin & J...

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