Cape Town - A ruling on provident funds has big implications for employees with dishonourable intentions.
The pension funds adjudicator's finding that a provident fund may withhold withdrawal benefits from a member pending the outcome of legal proceedings against them, and even deduct an amount from the fund to cover losses suffered by the employer, sends out a warning to potential fraudsters.
Pension Funds Adjudicator Muvhango Lukhaimane however cautioned that the power of withholding must be exercised reasonably and not indefinitely.