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We refer to that as a defined contribution fund because you are only told
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Steinheist

We refer to that as a defined contributionfund because you are only told how much you need...

We refer to that as a defined contribution
fund because you are only told how much you need to put in,
which is your contribution

Full Transcript

00:00:01.000 --> 00:00:04.798
We refer to that as a defined contribution fund because you are only told
00:00:04.799 --> 00:00:07.398
how much you need to put in, which is your contribution.
Duration
7 seconds
Views
19
Timestamp in Movie
00:11:00
Uploaded
Apr 29, 2025
Season
1
Episode
3
Genres
documentary, crime
Production
IdeaCandy

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Movie Summary

The biggest corporate scandal in South African history, the fall of Steinhoff led to a loss of R200 billion. Steinheist untangles the story: the investors who were taken in; the victims and the CEO, Markus Jooste, who's still a fr...
S01 • E02 There was lack of diversity at the board level, - Steinheist 00:06
There was lack of diversity at the board level,
S01 • E03 We are hoping that over the life of your employment then, - Steinheist 00:23
We are hoping that over the life of your employment then,
S01 • E02 Because remember, the way the companies are run, - Steinheist 00:07
Because remember, the way the companies are run,
S01 • E02 The people who are running the company on a daily basis are the exco, - Steinheist 00:09
The people who are running the company on a daily basis are ...
S01 • E02 what tends to happen is that - Steinheist 00:08
what tends to happen is that
S01 • E03 So the government employee pension fund is a defined benefit model. - Steinheist 00:27
So the government employee pension fund is a defined benefit...
S01 • E02 And if they're coming from the same either race, culture, - Steinheist 00:08
And if they're coming from the same either race, cultur...
S01 • E02 They're likely not to question anything that the chairperson does. - Steinheist 00:06
They're likely not to question anything that the chairp...
S01 • E02 So that then creates a problem, because then people start to think the same way. - Steinheist 00:11
So that then creates a problem, because then people start to...
S01 • E02 They're bringing different perspective, you'll be able to see things differently. - Steinheist 00:06
They're bringing different perspective, you'll be ...
S01 • E03 The long-term effect is the big problem. It's going to be a complete disaster. - Steinheist 00:06
The long-term effect is the big problem. It's going to ...
S01 • E02 They'll be able to show the impact of what you are doing on others, - Steinheist 00:15
They'll be able to show the impact of what you are doin...
S01 • E03 There are smaller pension funds that were invested. - Steinheist 00:08
There are smaller pension funds that were invested.
S01 • E02 Remember, certain races were excluded by law from participating in the economy. - Steinheist 00:07
Remember, certain races were excluded by law from participat...
S01 • E03 And if you think about widows and orphans and security guards, - Steinheist 00:23
And if you think about widows and orphans and security guard...
S01 • E02 Some of us could not even do mathematics at school. - Steinheist 00:05
Some of us could not even do mathematics at school.
S01 • E02 So, the Black Business Council is trying to put pressure, and lobby, and advocate - Steinheist 00:12
So, the Black Business Council is trying to put pressure, an...
S01 • E03 There is a bit of an emotional connection to me that I know how it feels - Steinheist 00:12
There is a bit of an emotional connection to me that I know ...
S01 • E02 We still have less than 5% of the economy owned by black people. - Steinheist 00:06
We still have less than 5% of the economy owned by black peo...
S01 • E02 We've got the majority of the CEOs of the JSE-listed companies - Steinheist 00:10
We've got the majority of the CEOs of the JSE-listed co...