Pension Funds Adjudicator proposes 35% increase in levy for 2024/25
The Minister of Finance will have to submit the increase to Parliament for approval because it exceeds the Consumer Price Index.
The FSCA and PA urge financial institutions to prepare for the standard’s implementation despite the provision for a transitional period.
Read moreThe Minister of Finance will have to submit the increase to Parliament for approval because it exceeds the Consumer Price Index.
The Pension Funds Adjudicator also says the conduct of retirement fund administrators during a transfer of administration should be regulated.
Delays in payment of withdrawal benefits and employers’ failure to pay contributions continue unabated, says Lukhaimane