Penalties loom for non-compliance with OPFA information requests
OPFA 2022-2023 Annual Report annual report highlights key determinations in pension administration law.
OPFA 2022-2023 Annual Report annual report highlights key determinations in pension administration law.
South Africans are increasingly mobile, either working abroad, staying abroad for extended periods, or opting to retire outside of South Africa. This has increased the focus on foreign pension products because South African […]
The government proposes to address anomalies in the Income Tax Act to ensure that members of pension and provident funds are treated alike, according to proposals announced in the Budget Review. The anomalies […]
In a recent communication, the Financial Sector Conduct Authority (FSCA) informed the retirement fund industry that it is in the process of finalising the endorsement of (urgent) amendments to rules of funds received […]
“The retirement funds sector in South Africa has seen significant change in the past few years – with the focus largely on stronger regulation to protect the interests of members. There can be […]
The problem with unclaimed benefits is decades old. Each year various statistical reports add up the billions and initiatives are launched to track the beneficiaries of the unclaimed funds. Will the latest drive […]
The Pension Funds Adjudicator recently ruled that a death benefit was distributed fairly although one of the beneficiaries was not financially dependent on the deceased. “The entitlement stems from the fact that the […]
The FSCA has just published PFA exemption notice no. 3 of 2019 that exempts certain funds from the requirements of sections 9a and 16 of the Pension Funds Act. What does the PFA […]
When can an employer claim against an employee’s retirement fund? How is the deduction determined, and is it legal? Can a pay-out be delayed as a result of money owed to the employer? […]
The Registrar of Pension Funds published Notice 4 of 2017 which gave notice of its intention to cancel a substantial number of funds in response to applications from fund administrators. Any person aggrieved by […]
The Registrar of Pension Funds published, for comment, a draft Directive to determine conditions in respect of inducements and acceptance of gratification to ensure compliance with and to prevent contraventions of the objectives […]