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Pension fund file
The Financial Sector Conduct Authority (FSCA) says it has noted an increase in the number of pension funds reporting employers who are failing to invest workers retirement funds as required by law.
The FSCA has reported that over 15 500 non-complaint employers have more than R7 billion in outstanding pension fund contributions.
Industries failing to comply with Section 13A of the Pension Fund Act include the motor vehicle industry, private security, transport and municipalities.
FSCA Commissioner Unathi Kamlana says the regulator continues to work with law enforcement to bring non-compliant employers to account.
” As of March 2025, the estimated pension fund arears stood at R7.29 billion owed by approximately 15 521 non-compliant employers reported across 67 retirement funds nationwide. This reflects the scale and seriousness of the problem but also underscores why continued vigilance, enforcement advocacy and collaboration are essential.”
