
Adjudicator’s rulings highlight ongoing confusion over two-pot withdrawals
The retirement funds correctly refused multiple savings component withdrawals and early access to vested benefits.

The retirement funds correctly refused multiple savings component withdrawals and early access to vested benefits.

Lebogang Mogashoa takes office in December for a three-year term.

The draft Rules for the Office of the Pension Funds Adjudicator formalise existing procedures and align the OPFA with COFI and the cross-scheme framework.

Outgoing Adjudicator Muvhango Lukhaimane says the system has laid bare long-standing non-compliance with section 13A of the Pension Funds Act.

Expanding the Office’s mandate to include disputes involving advice will enhance member protection, but there are concerns over jurisdictional overlaps and operational costs.

The OPFA says it needs to take on more staff to handle the significant increase in the number of complaints.

Deputy Pension Funds Adjudicator Naheem Essop shares how OPFA’s inquisitorial process works, the challenges funds face with internal dispute resolution, and what happens when complaints escalate or are deemed frivolous.

The OPFA on how retirement funds should address non-compliant employers, death benefit allocations, and requests to withhold benefits.

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.

PAIA and POPIA should not be misused to hide inadequate investigations into dependants’ claims.

The Pension Funds Adjudicator rules the fund acted within the law when it refused a member’s request to dip into his FlexiPension plan.

OPFA 2022-2023 Annual Report annual report highlights key determinations in pension administration law.