BPOPF�s insourcing suffers teething glitches

From April this year, the BPOPF re-claimed the administration of pensions for its 153,000 members from Alexander Forbes saying the move was going to see the Fund saving upto 70% of the insourcing costs.

But by CEO, Boitumelo Molefe’s own admission, despite having run a six-month parallel with Alexander Forbes prior to ‘going live’, a combination of factors has worked against insourcing of the administration including inconsistent data and tax compliance issues with members. “Our turnaround times are not yet where we want them to be. It’s a new system which my team is trying to adapt to but unfortunately we have experienced delays resulting in complaints and queries from our members,” she said.