"Truth is like the sun. You can shut it out for a time but it ain't goin' away"

Elvis Presley

On or about June 2010 some 11,000 members of 4 umbrella funds (the Dynam-ique SA Umbrella Pension and Provident Funds and the IF Umbrella Pension and Provident Funds) lost approximately R20 million of their retirement fund monies in consequence of a decision by the then trustees to appoint Deloitte to recreate all the member records. The rationale for the rebuild put forward by these trustees was that there had been maladministration by a previous administrator and that the amount spent was reasonable and necessary.  

Various lawsuits were initiated following this loss of money by the members however none of these lawsuits have to date provided any clarity as to who was responsible for the loss. Details of these lawsuits can be found on the FAQ page.  

The purpose of this commission of enquiry (to be known as the Dynam-ique Commission of Enquiry) was to conduct an independent enquiry with the purpose of determining who was responsible for the members losing this money.

This Commission of Enquiry had no legal jurisdiction and hence was not intended to impose any financial liability on any person. As indicated the purpose of the Commission was purely for the interested parties to find out who was responsible for the member' loss. This also means that there was no obligation on any person to participate in this Commission. All interested parties were invited to present information and/or evidence to the Commission but no party was legally bound to do so.

The Commission completed its work on 7 December 2018 and its findings can be found on the Findings page.

Please Contact Us should you have any questions or comments.