Move to two-pot system drives jump in complaints to the Adjudicator
Outgoing Adjudicator Muvhango Lukhaimane says the system has laid bare long-standing non-compliance with section 13A of the Pension Funds Act.
Industry News
COFI will redefine the OPFA’s role and scope
Expanding the Office’s mandate to include disputes involving advice will enhance member protection, but there are concerns over jurisdictional overlaps and operational costs.
SCA to hear BHF’s appeal on low-cost medical options
The Supreme Court of Appeal will hear arguments on the merits if the appeal is upheld.
Discovery integrates sleep into its health and insurance models
Discovery’s new research highlights sleep as a critical but overlooked health factor, finding strong links between poor sleep, chronic illness, and road accidents
Accounting body says UIF breakdown is a national compliance crisis
The Chartered Institute for Business Accountants has launched a campaign to press for reform of the Unemployment Insurance Fund.
Old Mutual Private Equity exits Medhold in sale to Sanlam
Sanlam Private Equity says the acquisition aligns with its strategy of investing in market-leading businesses with strong growth potential.
Deep flaws in SARS’s systems, OTO investigation finds
The Tax Ombud’s draft report on profile hijackings finds evidence of failures in SARS’s fraud prevention, detection, and resolution processes.
FSCA collects R119m in fines amid record enforcement year
In response to South Africa’s greylisting, the Authority has grown its AML/CFT team, increased on-site inspections, and ramped up fines.
Contribution increases ease slightly – except for one scheme
Momentum Health is proposing to raise contributions by an average of 9.9% in 2026 – the highest increase among the five largest open schemes.
Two pots showing results, but success hinges on preservation and education
Industry experts say that small, unclaimed pots left behind by members pose a growing challenge that must be managed to protect long-term retirement outcomes.
Old Mutual warns about ‘Trevor Manuel’ deepfake investment pitches
Manuel’s reminder that only authorised individuals can provide financial product recommendations comes as the FSCA warns about four unlicensed entities/individuals.
Discovery delays 2026 contribution increase to April
Leading open medical schemes have announced increases above the CMS’s guidance, underscoring the tension between regulator calls for restraint and schemes’ funding needs.
Alexforbes defends legal position after Mabuza pension freeze
The High Court freezes payouts from the late former Deputy President’s R44.7m annuity amid a family dispute.
Simplifying PMBs to empower smarter client decisions
The second edition of our bi-weekly column unpacks Prescribed Minimum Benefits – what they are, which conditions they cover, and how they work in practice.
Funeral provider racks up 12 FAIS Ombud rulings against it
The FSCA revoked Luvuyo’s licence in August after a string of determinations found the firm failed to pay claims and operated without an underwriter.
Court upholds R200 000 fine on dealership for ignoring compliance notice
The judgment makes it clear that remedies under the CPA – refund or replacement – are enforceable and cannot be frustrated by delay or technical objections.
Roadworthiness is essential for valid insurance claims, Ombud warns
While insurers can decline claims involving unroadworthy vehicles, repudiations must be linked to the cause of the loss.
