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The pension funds adjudicator yesterday (18.10.05) issued the 69th ruling involving a RA Fund and exposed another concerning practice of interest charged by the Insurer on the loan account.
In four of the matters, the parties had reached settlement agreements, therefore, it was unnecessary for the adjudicator to issue formal determinations. In the other 10 matters, formal determinations were issued.
The complainant worked for Idaho Spur from 1991 to December 2000. During this time she made regular contributions to the Idaho Spur Provident Fund. Following termination of her service, she expected to receive her withdrawal benefit from the fund.
A provisioning of R225m for PFA rulings related costs or expenditure was explained by Jim Sutcliffe, Old Mutual plc group executive, as not a mis-selling issue, but rather a cessation of the contract issue.
If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?