Retirement funds can’t use POPIA to withhold information from the Adjudicator
PAIA and POPIA should not be misused to hide inadequate investigations into dependants’ claims.
beneficiaries
Life insurers pay out R298bn as policy lapses remain a concern
ASISA advises consumers to take a holistic view of their finances and avoid hasty decisions that could leave them unprotected.
The importance of having a valid will and proper estate planning
Without a legally sound will, an estate is distributed under intestate succession laws, which may not align with your wishes. Make sure your family is protected by drafting a will with the help of a financial adviser.
Twins born from donor sperm outside marriage not legal dependants
Sperm does not a father make and being a biological parent does not confer absolute rights, according to a ruling by the Pension Funds Adjudicator.
When does the countdown for tracing a fund member’s dependants start?
High Court hands down a decision on the interpretation of the tracing provision in section 37C of the Pension Funds Act.
Discovery’s enhanced screening benefit will be available to new members after 2024
DHMS provides an update on the impact of the WELLTH Fund and membership movements following the consolidation of the Comprehensive series.
Retirement funds and death benefits: what options do beneficiaries have?
There is a major difference between pre-retirement and post-retirement funds regarding the nomination and payment of beneficiaries.
Medical schemes that grew their membership by 5% or more in 2022
Preliminary data released by the Council for Medical Schemes highlights key trends in the industry last year.
Bonitas gains members and bucks buying-down trend in 2022
With reserves reaching R8.8 billion, can members expect that very low contribution increases will automatically follow?
Sars has its eye on the application of attribution rules in trusts
Trusts that have failed to comply with the rules are exposed to penalties and fines.
‘Worrying trend’ in medical schemes’ membership profile
Alexforbes report also shows that contribution increases have outstripped CPI inflation over the past 22 years.
Trusts are facing a multitude of new reporting requirements
Trustees will have to report directly to Sars, outside of the current trust tax return process, and before the trust tax return is due.
What’s ‘new’ in the PA’s directive relating to Fica and life insurance beneficiaries?
Three things to note when it comes to customer due diligence and assessing money laundering and terrorist financing risk.
Open medical schemes yet to regain beneficiaries lost during lockdown
Lives covered by open schemes declined in 2021 despite the increase in the number of principal members.
Fund was right, Adjudicator was wrong, in death benefit allocation decision, High Court finds
Adjudicator said the fund was ‘wrong’ to rely on the fact that the sons were not financial dependants.
Make yourself traceable by retirement funds that may owe you money
There are things former retirement fund members and their beneficiaries can do to make it more likely they will be paid an unclaimed benefit due to them. By the end of last year, […]
Medical schemes are robust with healthy reserves, Sustainability Index shows
The membership of South African medical schemes was resilient during the Covid-19 pandemic despite rising unemployment and the slowdown in economic growth, according to the latest Alexforbes Sustainability Index. Membership of the analysed […]
