BULLY SINGH â¢Chairman, Iscor Retirement Fund &Iscor Unclaimed ...

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65% of the administration costs were for the

Deferred Pensioners

– These 40 000 Deferred Pensioners were on the

books but were “not doing anything”

– State of affairs could not be allowed to continue and

had to be remedied

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65% of the administration costs were for the Deferred Pensioners – These 40 000 Deferred Pensioners were on the books but were “not doing anything” – State of affairs could not be allowed to continue and had to be remedied

Steps that were taken: – Approached the Actuary – Asked for a breakdown of the age groups – Asked for the detailed benefit entitlement of each Deferred Pensioner – A startling fact: the first 15 000 Deferred Pensioners had benefits of less than R500 each

Page 1 and 2: BULLY SINGH •Chairman, Iscor Reti
Page 3: Administration expenses were going
Page 7 and 8: - Having to get hold of 40 000 peop
Page 9: Thank you

BULLY SINGH â¢Chairman, Iscor Retirement Fund &Iscor Unclaimed ...

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BULLY SINGH â¢Chairman, Iscor Retirement Fund &Iscor Unclaimed ...