Wednesday 14 November 2018
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businessdaily - 5 month ago

Pension fund in corruption scam

A probe into the Unified Councils Pension Fund (UCPF) has unearthed massive abuse of funds amid evidence the board pocketed US$8,7 million in allowances, sitting fees and staff salaries between 2010 and December 2017 at a time the fund did not honour pension obligations to members, an audit report shows.This comes after the Insurance and Pensions Commission (Ipec) in February suspended six executi...

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