Final legacy RA exemption conditions published
Commentators did not raise any significant concerns in their responses to the draft conditions, the FSCA says.
Commentators did not raise any significant concerns in their responses to the draft conditions, the FSCA says.
If a fund cannot follow the standard allocation methods, it must apply for FSCA approval to use an alternative, reasonable method.
Among other things, funds will have to show that participating in the two-pot system will negatively impact members’ benefits.
Retirement fund members must ensure their fund has their correct details and they are registered as a taxpayer with SARS.
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.