Alexander Forbes does 'the right thing'2010-02-06 Retirement fund administrator Alexander Forbes has made a "substantial" offer to resolve a R950-million claim against it for its role in the allegedly fraudulent stripping of surpluses of retirement funds in the 1990s, reducing the retirement benefits of thousands of members and pensioners.[Full
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Under a new chief executive, beleaguered retirement fund
administrator Alexander Forbes has taken a bold step to right wrongs committed in the surplus-stripping debacle of the 1990s. Read "Alexander Forbes does 'the right thing' " for the full story. Illustration: Colin Daniel
Alexander Forbes's about-turn will go far in repairing its damaged reputation2010-02-06 Finally Alexander Forbes has come to its senses and, for the first time, has genuinely attempted to put its sordid past behind it. It is a puzzle why it has taken it so long to do what Edward Kieswetter, its new chief executive, says is "the right thing to do" .[Full
Story...]
Bonitas trustees hope to avoid curatorship2010-02-06 The principal officer of the country's third-largest medical scheme, the Bonitas Medical Fund, has resigned and its board of trustees is expected to offer to resign after the scheme became the subject of a court application to place it under curatorship following irregularities involving millions of rands of members' money.
[Full
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Retirement fund administrator Alexander Forbes will pay up again for actions that left fund members impoverished. Personal Finance reports on the latest offer and the wrong deeds it seeks to set right. Also in our weekend print edition:
Short-term insurer closed down until outstanding claims are paid.
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