Pension Fund Trustees Fault RBM

Pension Fund Trustees Accuse RBM Governor Of Abuse Of Power Over K40m Fines

By Our Reporter Embattled trustees of the Public Service Pension Trust Fund have faulted George Partridge, Governor of the Reserve Bank of Malawi (RBM), for imposing K40 million fines on each trustee without granting them an opportunity to be heard. Board chairperson Chizaso Nyirongo described the decision—made in Partridge’s capacity as Registrar of Financial Services—as an abuse of authority. He argued that the penalties were issued without du…

Pension Fund Insights: A Game Changer for Malawi’s Economic Landscape

Key Business Points Reserve Bank of Malawi Governor George Partridge has imposed K40 million fines on each Public Service Pension Trust Fund trustee for regulatory breaches. Trustees claim the penalties […] The post Pension Fund Insights: A Game Changer for Malawi’s Economic Landscape appeared first on Business Malawi.

Pension Fund trustees fault RBM

Embattled Public Service Pension Trust Fund trustees have faulted Reserve Bank of Malawi (RBM) Governor George Partridge for fining them K40 million each without hearing their side in his capacity as registrar of financial services. In a written response to The Nation questionnaire, the fund’s board chairperson Chizaso Nyirongo accused the registrar of abusing his powers and taking advantage of the absence of the Financial Services Appeals Tribu…