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Treasury addresses industry’s main concerns about Pension Funds Amendment Bill
An application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Read moreAn application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
The Association for Savings and Investment SA and the Institute of Retirement Funds Africa also call for amendments not related to the two-pot system to be held over.
The Pension Bill will prohibit members from making a withdrawal from the savings component if the withdrawal results in insufficient funds remaining to settle a court order.