Understanding the division of retirement benefits at divorce
Understanding the nuances of ‘pension interest’ and ensuring accurate wording in the divorce order is vital to avoid complications.
Divorce
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Four key disconnects between advisers and female clients
A recent study by Schroders and Ad Lucem highlights significant challenges and opportunities for advisers to address the evolving needs of female clients.
Man who married four wives loses claim to 50% of his first wife’s pension interest
The first wife bought wedding dresses for the third and fourth wives, but this did not prove that she consented to the marriages.
Claim for interim maintenance of R128 298 a month is excessive, says judge
The High Court also rejects a wife’s claim for R300 000 to pay for renovations and furniture, saying Rule 43 does not provide for lump-sum payments.
Automated payment is not a defence to pension interest claims
The fund said the automated payment of the spouse’s 50% interest was already in process, and the payment could not be stopped.
SCA thwarts man’s bid to keep assets from his wife during divorce trial
A wealthy Durban businessman has failed in his bid to “hide” more than R5.5 million from his wife. He had hastily established a trust and repaid his father an old debt. The Supreme […]
Father can’t get money from sale of his house until he pays child maintenance, judge rules
A Johannesburg father who owes about R200 000 in maintenance for his children will not be able to get his hands on the proceeds of the sale of his house until he pays […]
Ex-wife loses out – settlement agreement not in line with Divorce Act, PFA
A case that came before the Financial Services Tribunal has underscored the importance of ensuring that divorce settlements conform to the provisions of the Pension Funds Act and the Divorce Act when addressing […]
Ex-wife loses out – settlement agreement not in line with Divorce Act, PFA
A case that came before the Financial Services Tribunal has underscored the importance of ensuring that divorce settlements conform to the provisions of the Pension Funds Act and the Divorce Act when addressing […]
Divorce and your retirement savings
Although the official statistics for South Africa’s divorce rate during COVID-19 are yet be released, StatsSA, in its 2019 Marriages and Divorces report, found that the divorce courts processed 23,710 divorces. Globally, the […]
Living Annuities and divorce – Supreme Court of Appeal overturns High Court ruling
In 2016 the Johannesburg High Court ruled that a living annuity does not form part of a spouse’s estate for purposes of calculating the accrual claim. This ruling has now been overturned by […]
Divorce and wills – Why it is necessary to review will after the event
In a recent blog post, Van der Spuy & Partners, a local law firm, advises readers to make sure that they have their will carefully reviewed by an attorney when they are divorced […]
GEPF – Rules changed regarding pension debt on divorce
Following the gazetting of the Government Employees Pension Law Amendment Bill on 23 May 2019, the Government Employees Pension Fund (GEPF) has amended and implemented the new rules and will no longer subject […]
How will a delay in a divorce order affect a member’s retirement fund?
According to the Divorce Act, a member’s pension interest in a retirement fund is regarded as part of the member’s assets. This means that it may be taken into account when determining how […]
How will a delay in a divorce order affect a member’s retirement fund?
According to the Divorce Act, a member’s pension interest in a retirement fund is regarded as part of the member’s assets. This means that it may be taken into account when determining how […]
Rising divorce rates – Financial advice for couples
Although getting divorced is a relatively straightforward process, at least from a legal perspective, the emotional and financial implications are often enormous. This is the view of Allan Gray’s Legal Advisor, Mlulamiu Nxele. […]
