Problems with the administration of umbrella funds is making it difficult for participating employers to transfer to another fund.

Employers who participate in badly administered umbrella retirement funds are finding that their member-employees are being held hostage in such funds and are unable to switch to a fund with better service. This problem is highlighted by the delays experienced by a fund that is trying to move from one of the country’s larger retirement fund administrators, which is still trying to unravel some inherited problems. Personal Finance looks at the problems that can arise when funds attempt to transfer from one administrator to another.

Also in our weekend print edition: Ombud broadens net of those to blame for losses incurred by investors in Sharemax property syndication.

Personal Finance is published every Saturday in the Pretoria News Weekend, the Saturday Star, The Independent on Saturday and the Weekend Argus.