Newsbreak - Lotus fmNewsbreak - Lotus fm

#PODCAST Adjudicator orders Motor Industry Fund to pay back over R72k after a seven-month pension payout delay #sabcnews

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By Newsbreak Producer Hoosen Ebrahim - The Pension Funds Adjudicator has ordered the Motor Industry Provident Fund to pay a pensioner compensation after he went seven months without receiving his monthly pension. The fund blamed a bank technical error for the missed payments between August 2024 and February 2025. The PFA found the fund's behaviour "reprehensible". Therefore, in addition, to paying the member back payment of some R72,000 plus interest, the fund was also ordered to pay compensation to the amount of R5 000 for failing to attend to the complaint. Pension Funds Adjudicator, Lebogang Mogashoa explains... 

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