The FSCA, National Treasury, and the Pension Funds Adjudicator tell MPs what they are doing to address the non-payment of retirement fund contributions. Regulatory interventions other than COFI may be in the offing.
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
The SA Retirement Annuity Fund is looking to the Supreme Court of Appeal to overturn a High Court decision in favour of the Pension Funds Adjudicator.
Sperm does not a father make and being a biological parent does not confer absolute rights, according to a ruling by the Pension Funds Adjudicator.
High Court hands down a decision on the interpretation of the tracing provision in section 37C of the Pension Funds Act.
A pension fund mistakenly paid out a fraudulent claim to a syndicate while the rightful member was in prison.
The member, along with two others, was criminally charged because of allegedly fraudulent conduct that cost the employer R4 million.
Over half of the awards issued by the Pension Funds Adjudicator for complaints about unpaid contributions were affected because part of the claim had expired.
A missing person’s affairs are in legal limbo until a death certificate is issued or the High Court makes a presumption of death declaration.
‘The bloody hand does not inherit’ is an established common law principle, says the Pension Funds Adjudicator.
The National Financial Ombud’s jurisdiction will be expanded in phases to include the activities of all regulated financial institutions.
There is a high degree of consensus over the reform recommendations put forward by the World Bank Group, says Treasury.
And the requirement to accept oral complaints applies to financial institutions, not only ombuds.
