Pensioners fleeced of millions-Sunday Standard 26 January- 1 February 2014 This story now convice me to suspect the reason why the employer took a step to withdraw her Trustees last year and appointing the new ones who are dominatly Permanent Secretaries. One of the main issues that the employer raised was the appointment of asset managers for our Pension Fund. The appoint was deemed to be not done under the transparent manner and some were believed to be contracted in a freindship manner by those in Trusteeship. This was also not good on the investment part. The growth of investment seem not to be beneficial for members who are Public Officers. The reason being that there was high management fees for these asset managers. Now there is a looming investigation regarding some of this assets managers who are believed to have cheated on us somehow. I believe our Trustees especially from the Union part will take us aboard on the issue... Whats your take on this one Comrade.
Posted on: Thu, 30 Jan 2014 06:02:59 +0000
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