The Institute of Retirement Funds Africa (IRFA) has confirmed its eight-member board, with Nancy Andrews (pictured) taking over as chairperson and Cedrick Pila elected as vice-chairperson.
The appointments were made at a board meeting on 28 August, following the confirmation of the board at IRFA’s annual general meeting on 27 August 2026.
Andrews, who previously served as IRFA’s vice-chairperson, succeeds Geraldine Fowler, who retired as chairperson at the AGM. Pila, a continuing board member, was elected vice-chairperson.
The confirmed board comprises Andrews, Pila, Amanda Khoza, Ntombi Mlambo, Seelan (Babs) Naidoo, Mkuseli Mbomvu, Anthony Williams, and Shafeeq Abrahams.
Five directors continue in office, while members at the AGM approved the appointment of three elected directors – Andrews, Williams, and Abrahams – with effect from 27 August.
A legal specialist takes the chair
Andrews brings more than 25 years of experience in South Africa’s financial services sector to the chairperson role, with particular expertise in retirement funds, life insurance, investments, tax, and regulatory matters.
She is general legal counsel and head of legal for Discovery Corporate & Employee Benefits and Discovery Invest, where she oversees legal, compliance, insurance, and tax matters. She holds a B Proc degree, as well as postgraduate diplomas in Tax, Money Laundering Control, Compliance Management, Interpretation and Contract Drafting, and Pensions Law.
Andrews has also held several industry leadership and governance positions. She previously served as president of the Pension Lawyers Association of South Africa and chairs IRFA’s Legal and Technical Committee. She has also participated in industry workgroups dealing with tax, retirement reform, group insurance, and transformation.
Her work has placed her at the centre of some of the major regulatory changes affecting retirement funds. In 2026, she has continued to contribute to discussions around retirement reform, including the two-pot retirement system, as well as governance and regulatory issues affecting funds and their members.
In her election address, Andrews said her leadership approach would be grounded in advocacy, education and service, with strong governance and informed decision-making central to improving retirement outcomes.
“My vision is for the IRFA to continue being the leading and most influential voice of the retirement fund industry, not only in South Africa but across the African continent,” Andrews said.
“As our industry continues to evolve, we must not simply react to change; we must help shape it. We must continue to influence policy constructively, embrace innovation responsibly, and advocate for solutions that place members first.”
Pila brings governance and financial-planning experience
Pila’s election as vice-chairperson brings experience spanning both the technical governance of retirement funds and the financial-planning perspective relevant to member outcomes.
He is an independent retirement-fund governance professional with more than a decade of experience spanning retirement-fund operations, governance, regulatory compliance, and fiduciary oversight. He provides executive oversight to retirement-fund boards on areas including operations, governance, risk, and compliance.
Pila is the founder and managing director of Pila Wealth Management and has also worked as an independent specialist service provider to retirement funds on trustee training, assessments, and policy development. His previous career includes senior roles at Allan Gray and 10X Investments.
He is a Certified Financial Planner and Chartered Principal Executive Officer and holds a Postgraduate Diploma in Financial Planning from the University of the Free State, a Certificate in Pension Funds Law from UNISA, and a BCom in Finance and Investments from the University of Johannesburg.
Pila has also served as chair of IRFA’s Retirement Funds Audit Sub-Committee, contributing to the Institute’s work on governance, regulatory reform, and audit oversight.
Governance and member education remain priorities
Under its new leadership, IRFA said it would continue to advocate for sound governance and constructive policy engagement, while supporting trustee development and member education.
The Institute also plans to strengthen collaboration between retirement funds, service providers, regulators, and industry bodies, and to encourage innovation focused on practical member value.
These priorities come as retirement funds continue to operate in an environment of regulatory, economic and social change.
IRFA’s role includes bringing together industry expertise, sharing knowledge and representing the retirement industry in engagements with government and regulators, including on legislation and tax matters affecting retirement.
The Institute said the confirmed board would build on this role by strengthening its relevance in South Africa and expanding its contribution across the African retirement-fund landscape.
IRFA also thanked Fowler for her leadership and service.
Mandla Nkosi retired from the board at the AGM after reaching the applicable time limit for re-election.
The Institute said the changes reflected its commitment to planned renewal and accountable governance while maintaining continuity in its work on behalf of retirement-fund stakeholders.
