Limpopo Gambling Board Annual Report

LIMPOPO GAMBLING BOARD Annual Financial Statements for the year ended 31 March 2022 Notes to the Annual Financial Statements

2022

2021

22. Defined contribution plan (continued) The employer contributes a percentage of an employee’s salary to the Old Mutual Pension Fund which is subject to the Pension Fund Act, where it is vested on the employee’s behalf. On retirement the employee will receive contributions plus returns on investment. The employer has no obligation other than to make the monthly payments and no further risk. The risk of market movements lies with the employee.

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