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.
beneficiaries
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 […]
PFA’s determination offends the principles of natural justice, says tribunal
The Pension Funds Adjudicator (PFA) offended the “principles of natural justice” when it overruled a decision by a pension fund’s board of trustees and awarded a death benefit without giving two people affected […]
PFA’s determination offends the principles of natural justice, says tribunal
The Pension Funds Adjudicator (PFA) offended the “principles of natural justice” when it overruled a decision by a pension fund’s board of trustees and awarded a death benefit without giving two people affected […]
The five medical schemes that pay brokers above the industry average
Five medical schemes – including Discovery, the country’s biggest by number of beneficiaries – paid commissions to brokers above the industry average last year, according to the Council for Medical Schemes (CMS) annual […]
