FSCA publishes report on project to deregister retirement funds
Authority says mistakes were made, but they were rectified.
Retirement Funds
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Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
Treasury presses ahead with launching two-pot system in March 2024
Outstanding issues will be finalised later this year.
Reminder: conduct standard on retirement fund contributions is now in effect
Conduct Standard 1 of 2022 aims to help eradicate non-payment of retirement fund contributions by employers.
Investigation into N-e-FG Administrators is ‘at an advanced stage’
FSCA has taken steps after considering the statutory manager’s report.
Easier winding-up process for retirement funds that decide to go into liquidation
FSCA implements notice exempting funds from certain qualifying criteria in Board Notice 75.
Changes to process for considering section 14 transfer applications
FSCA says enhancements to the online submission process will result in faster turnaround times.
Audit exemptions for retirement funds set to be tightened
FSCA proposes consolidated prudential standard for financial reporting requirements.
FSCA wants to update retirement funds’ reporting requirements urgently
The amendments to regulation 28 of the Pension Funds Act take effect on January 3.
Proposal to make it easier and cheaper to wind up retirement funds that decide to go into liquidation
The exemption does away with the R50 000 average-benefit-per-member threshold and caps the membership threshold at 100.
Adjudicator takes retirement funds to task for ‘unnecessary’ complaints to her office
Delays in payment of withdrawal benefits and employers’ failure to pay contributions continue unabated, says Lukhaimane
Tribunal upholds FSCA’s decision to withdraw asset manager’s licence
It is clear that the FSCA does not lightly withdraw an asset manager’s licence in view of the possible consequences for investors, yet there comes a time when there appears to be no […]
Regulators encourage ESG investments in the financial services industry
The FSCA is taking a number of steps to encourage retirement funds to invest in green and other ESG investments.
Financial institutions may hold far more than R88bn in unclaimed assets
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
Make yourself traceable by retirement funds that may owe you money
There are things former retirement fund members and their beneficiaries can do to make it more likely they will be paid an unclaimed benefit due to them. By the end of last year, […]
Sars ruling highlights need to understand implications of investing in hybrid offshore pension products
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 […]
A deeper look at the two-pot retirement system
Blessing Utete, the managing executive of Old Mutual Corporate Consultants, spoke to Mark Bechard, the managing editor of Moonstone publications, about National Treasury’s draft legislation for the two-pot retirement system. Read: Treasury publishes […]
South Africans were R1.23 trillion poorer in the second quarter
An increase of R39 billion in the value of household debt and a decrease of R1.19 trillion in the value of household assets saw South Africans’ wealth (expressed in current prices) decrease by […]
