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Must a retirement fund’s rules stipulate the exact number of trustees?
If the rules do not state the actual composition of the board, it will not be possible to determine whether the board is properly constituted at any given time.
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 moreIf the rules do not state the actual composition of the board, it will not be possible to determine whether the board is properly constituted at any given time.
The fine of R2m imposed on AYO’s Khalid Abdulla was reduced to R1.2m.
‘A key individual is not only responsible to oversee the categories of financial services for which he is licensed, but he bears an oversight role in relation to the FSP generally.’