Funds ‘must do more’ to hold employers accountable for arrear contributions
The OPFA on how retirement funds should address non-compliant employers, death benefit allocations, and requests to withhold benefits.
#arrearcontributions
Adjudicator aligns with High Court’s ruling on the in duplum rule
The OPFA confirms that penalty interest on late employer contributions may not exceed the original capital owing – in line with the Full Bench’s judgment in March.
Fund loses bid to remove limit on interest on arrear contributions
The Full Bench affirms that interest under the Pension Funds Act is capped by the common law in duplum rule.
FSCA confirms first-day calculation for late-payment interest
The revised interpretation, which reverses the Authority’s earlier guidance, aligns with the Office of the Pension Funds Adjudicator’s view.
Labour law reforms mulled to clamp down on arrear contributions
The government, business, and labour are working together at Nedlac to address employers’ non-compliance with payments to retirement funds.
Retirement fund secures R14m order against municipality and its officers
The High Court describes the municipality’s persistent challenges to the fund’s applications as an example of the destruction of the country’s constitutional ethos.
Enforcement is the Achilles’ heel in contribution compliance, says Adjudicator
The FSCA, National Treasury, and the Pension Funds Adjudicator tell MPs what they are doing to address the non-payment of retirement fund contributions. Regulatory interventions other than COFI may be in the offing.
Arrear contributions: FSCA publishes third list of defaulting employers
A longer annexure of employers who have cleared their arrears or arranged to do so signals the effectiveness of the Authority’s ‘name and shame’ campaign.
Court orders employer to disclose bank records in battle over contributions
The Mafube Local Municipality is accused of withholding nearly R38 million in employee retirement fund contributions.
Failure to act timeously over arrear contributions places members’ benefits at risk
Over half of the awards issued by the Pension Funds Adjudicator for complaints about unpaid contributions were affected because part of the claim had expired.
Arrear contributions: publishing employers’ names ‘is having an impact’
Deputy commissioner sets out the FSCA’s priorities for the supervision and regulation of the retirement industry.
Arrear contributions: 10 employers should not have been on the list
The FSCA publishes its latest list naming thousands of entities that allegedly owe retirement fund contributions.
