Adjudicator did not allow retirement fund to respond fully to a complaint
SCA also finds that the High Court should not have granted punitive cost orders against the fund.
death benefit
Videos
Watch: MBSE launches RE training for FAIS representatives
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
FSCA to issue a new interpretation ruling on section 37C
Interpretation Ruling 1 of 2020 incorrectly brought an unclaimed benefit within the ambit of section 37C of the Pension Funds Act.
Trustees of non-PFA fund not bound by a member’s nomination form
A reviewing body will have grounds to intervene only if a fund fails to take into account relevant considerations and ignores irrelevant considerations.
Beneficiary nomination updates and crypto assets in a will
New trends call for new requirements. Help your clients to fulfil their wishes when the time comes.
Family goes to court after deceased’s life partner gets 100% of RA benefit
High Court considers the extent of the retirement fund’s investigation into the dependants.
Fund was right, Adjudicator was wrong, in death benefit allocation decision, High Court finds
Adjudicator said the fund was ‘wrong’ to rely on the fact that the sons were not financial dependants.
‘When free money is in the air, truth evaporates’
A decision by a pension fund was referred to the Pension Funds Adjudicator’s office, and subsequently to the Financial Services Tribunal by the disgruntled siblings of the deceased. Background After the death of […]
‘Interrogate a guardian’s circumstances before deciding where to pay a death benefit’
A beneficiary fund should not be the default choice when a retirement fund pays out a death benefit due to minor beneficiaries, but trustees must interrogate a guardian’s circumstances and intentions before making […]
Retirement fund’s justification for allocating 15% of a death benefit to a ‘customary wife’ was legally defective
The eJoburg Retirement Fund has been ordered to revise a death benefit allocation after the High Court found the deceased’s alleged customary marriage was unlawful and the fund’s justification for allocating 15% of […]
Separation does not disqualify a spouse from being a legal dependant
The Financial Services Tribunal has dismissed an application by a fund member’s daughter to have the allocation of her late father’s entire death benefit to her mother reconsidered on, among other grounds, that […]
Employer cannot shirk its obligations if an employee is on sick leave
Retirement funds should ensure employers are aware of their obligation to pay contributions, even while their employees are absent from duty. This was said by the Financial Services Tribunal when it upheld a […]
Employer cannot shirk its obligations if an employee is on sick leave
Retirement funds should ensure employers are aware of their obligation to pay contributions, even while their employees are absent from duty. This was said by the Financial Services Tribunal when it upheld a […]
Opinion that a fund’s benefit allocation is unfair isn’t grounds for interfering
A decision made by a fund’s trustees can be interfered with only where it can be shown that they have taken irrelevant, improper and irrational factors into consideration, and where it can be […]
Opinion that a fund’s benefit allocation is unfair isn’t grounds for interfering
A decision made by a fund’s trustees can be interfered with only where it can be shown that they have taken irrelevant, improper and irrational factors into consideration, and where it can be […]
Pension fund trustees have a wide discretion when distributing a benefit
Pension fund trustees often have a difficult task in determining who is a dependant – and how much of a death benefit should be allocated to each dependant – when a fund member […]
PFA’s determination offends the principles of natural justice, says tribunal
The Pension Funds Adjudicator (PFA) offended the “principles of natural justice” when it overruled a decision by a pension fund’s board of trustees and awarded a death benefit without giving two people affected […]
PFA’s determination offends the principles of natural justice, says tribunal
The Pension Funds Adjudicator (PFA) offended the “principles of natural justice” when it overruled a decision by a pension fund’s board of trustees and awarded a death benefit without giving two people affected […]
