How Government Robs You

https://www.10x.co.za/faq/umbrella-fund-faqs/is-it-illegal-for-employers-not-to-pay-over-pension-fund-contributions/

it is a very serious offense not to pay over pension fund contributions, for which the directors of your husband’s company will be criminally prosecuted. Our law requires that pension fund contributions MUST be paid over the fund within seven days of month end. Of course, it is fraud to withhold this money in the company’s bank account as it – and the investment income thereon – belongs to the employee.

basically you have to give money to government, and they promise to give them back to you if you are lucky to live long enough to qualify for retirement. Less money means you will eat cheaper food and use cheaper health care, so naturally you will die quicker for just the junk food.

>>1
Your pension fund contributions do not belong to the government, they do not hold your pension fund for you. Government-enforced pension funds are personal savings and investment account(s) that individuals are not allowed to consume for personal use until retirement. This is a good thing because the vast majority of people have no concept of "saving for retirement". Without this government initiative, the vast majority would not consider saving for retirement until 5-10 years before they retire by which point is an extremely late time to start saving.

If you have a better retirement plan than what the government mandates, then it's quite sensible to make use of this initiative as part of your own plan. You are allowed to contribute to this fund beyond what the government requires of your employer. You are allowed to manage and grow this fund under your direct management if you desire to do it. I have my own pension plan and I personally don't need this government-enforced pension fund to help me for my retirement. However, since it is a mandatory part of my life, my own pension plan includes concessions for my government-enforced pension fund. My plan today includes making contributions to this pension fund as well as managing my own pension fund that isn't regulated by government pension fund laws.