Lukhaimane urges caution as litigation over beneficiary tracing continues
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.
PFA
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PFA report – Funds do not act in keeping with the spirit of the TCF
The Pension Fund Adjudicator published her annual report last week. Besides the statistics, indicators and conclusions about challenges faced, the report shares a few case studies as an illustration of these challenges. One […]
PFA report – Funds do not act in keeping with the spirit of the TCF
The Pension Fund Adjudicator published her annual report last week. Besides the statistics, indicators and conclusions about challenges faced, the report shares a few case studies as an illustration of these challenges. One […]
PFA Annual report – Substantial increase in pension fund complaints
“The Office of the Pension Funds Adjudicator (OPFA) has contributed immensely in the country’s priorities of social protection by ensuring consumers of pension fund products and services are empowered and that there are […]
PFA Annual report – Substantial increase in pension fund complaints
“The Office of the Pension Funds Adjudicator (OPFA) has contributed immensely in the country’s priorities of social protection by ensuring consumers of pension fund products and services are empowered and that there are […]
Non-payment of pension contributions – PFA’s ruling challenged
Section 13A of the Pension Funds Act (PFA) requires that employers pay contributions for a particular month within seven days after month-end. It also stipulates that they provide member schedules in respect of […]
Non-payment of pension contributions – PFA’s ruling challenged
Section 13A of the Pension Funds Act (PFA) requires that employers pay contributions for a particular month within seven days after month-end. It also stipulates that they provide member schedules in respect of […]
Tribunal decisions – Detailed information critical for proper outcome
Since April 2018, the FSR Act includes the Pension Funds Adjudicator (PFA) as a “decision-maker” and is therefore in a position to entertain appeals against determinations handed down by the PFA. In one […]
TCF and Causal Event Charges
The Pension Fund Adjudicator (PFA) recently ruled on an investor’s complaint regarding the excessive causal event charges. The PFA found in favour of the product house, but was rather scathing in her comments […]
PFA Ruling on Fund Returns
It is standard practice that Ombuds do not rule on what investors may deem to be unsatisfactory returns. This ruling is interesting for two reasons: The complainant alleged that excessive fees caused the […]
Withholding of Pension Withdrawal Benefits
A recent determination by the Pension Funds Adjudicator concerns an employer’s decision to instruct the administrator of the pension fund to withhold the complainant’s withdrawal benefits after terminating his service. In their response […]
Causal Event Charges Back in the Spotlight
The latest determination by the Pension Fund Adjudicator (PFA) brought the levying of penalties on retirement annuities, when changes are effected, to the fore again. I was unable to obtain a copy of […]
Positive News from PFA
The Pension Fund Adjudicator published her annual report last week. It contains some very positive indicators, as well as concerns for the industry, and the public. In the message from the Minister of […]
Consumer Protection and the Regulators
Retirement Annuities are making the headlines, again, but for the wrong reasons. The most recent determination by the Pension Fund Adjudicator (PFA) made the headlines in Personal Finance, and was followed by a […]
