The human impact of the drought has been revealed in a judgment from the High Court in Bloemfontein.
Gertrude Bohloko‚ 52‚ applied to the court for an order forcing Liberty Group to release part of her R1.7-million pension savings‚ or give her a loan.
“She produces and sells farm products to meet her financial obligations‚” said Judge Celeste Reinders.
“Due to the negative impact of the ongoing drought‚ she has been unable to attend to the payment of… her mortgage bond with Absa Bank‚ two life policies with Liberty and her medical aid premiums.”
The former deputy registrar at the Central University of Technology asked Liberty to allow her to withdraw some of her pension savings‚ but it refused because Bohloko had already made use of the single withdrawal the scheme’s rules allowed before the age of 55.
Reinders said she could not help Bohloko. “Even though I have heartfelt sympathy for her financial predicament… I am not at liberty to interfere in the contractual relationship (with Liberty)‚” she said.
But she refused to make Bohloko pay the financial services giant’s costs “to show my disapproval for the uncooperative manner” in which it dealt with the farmer’s attorney. – TMG Digital
Drought-hit farmer loses court bid to stay afloat with pension savings
The human impact of the drought has been revealed in a judgment from the High Court in Bloemfontein.
Gertrude Bohloko‚ 52‚ applied to the court for an order forcing Liberty Group to release part of her R1.7-million pension savings‚ or give her a loan.
“She produces and sells farm products to meet her financial obligations‚” said Judge Celeste Reinders.
“Due to the negative impact of the ongoing drought‚ she has been unable to attend to the payment of… her mortgage bond with Absa Bank‚ two life policies with Liberty and her medical aid premiums.”
The former deputy registrar at the Central University of Technology asked Liberty to allow her to withdraw some of her pension savings‚ but it refused because Bohloko had already made use of the single withdrawal the scheme’s rules allowed before the age of 55.
Reinders said she could not help Bohloko. “Even though I have heartfelt sympathy for her financial predicament… I am not at liberty to interfere in the contractual relationship (with Liberty)‚” she said.
But she refused to make Bohloko pay the financial services giant’s costs “to show my disapproval for the uncooperative manner” in which it dealt with the farmer’s attorney. – TMG Digital
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