Pension fund head disputes PwC report

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JohnOliphant Independent Newspapers. John Oliphant. Photo: Simphiwe Mbokazi.

John Oliphant on Thursday disputed the findings of an auditor’s report that he acted irregularly.

Oliphant, suspended as principal executive of the Government Employees Pension Fund (GEPF) in October pending a disciplinary inquiry, contravened GEPF policy when he approved increasing the fee for the winning bidder, Mother Russia, to R2 million from R531 555.

This is according to a Price- waterhouseCoopers (PwC) report, which Oliphant confirmed he had seen.

“This is a matter of dispute at the hearing,” Oliphant said, adding that he was on leave when Mother Russia was appointed in September 2012.

“I only became aware of possible irregularities in their appointment in February 2013 (when) I stopped all the activities regarding Mother Russia and initiated an investigation.”

The disciplinary hearing would be between April 23 and 25, said Oliphant, adding that he had “pleaded not guilty.” – Bloomberg

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