Conduct standard on reporting obligations relating to retirement fund contributions due to take effect in February
It explicitly places an onus on retirement funds to alert employers of their obligations under the Pension Funds Act.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreIt explicitly places an onus on retirement funds to alert employers of their obligations under the Pension Funds Act.
The Adjudicator also failed to apply the Pension Fund’s Act prescription provision correctly, tribunal says.
FSCA proposes consolidated prudential standard for financial reporting requirements.
The amendments to regulation 28 of the Pension Funds Act take effect on January 3.
The exemption does away with the R50 000 average-benefit-per-member threshold and caps the membership threshold at 100.
The Financial Services Tribunal (FST) has told the FSCA to reconsider the penalty of R4 000 a day it imposed on Akani Retirement Fund Administrators in 2020 for not submitting reports timeously. The total […]
The FSCA is taking a number of steps to encourage retirement funds to invest in green and other ESG investments.
Whistleblower asserts that members’ money was stolen, although a forensic investigation found no evidence of this.
Adjudicator said the fund was ‘wrong’ to rely on the fact that the sons were not financial dependants.
National Treasury has “loosened the lids” on the pots in the two-pot retirement system, agreeing to amend the draft legislation so that fund members will be able to access the savings they accumulated […]
The Association for Savings and Investment South Africa (Asisa) has welcomed National Treasury’s decision to move out, by a year, the date for implementing the two-pot retirement system but still believes the new […]
National Treasury has proposed amending the draft two-pot retirement legislation to clear up a number of grey areas identified by stakeholders. The proposed changes were announced on Tuesday, when Treasury addressed the National […]
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 […]
The Association for Savings and Investment South Africa (Asisa) says retirement funds and administrators would like at least 18 months from the date on which the final legislation is gazetted in which to […]
The Financial Services Tribunal (FST) has decided that a retirement fund was correct in refusing to deduct a judgment debt from the withdrawal benefit of a former employee whose negligent or reckless driving […]
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 […]