Tribunal considers the FSCA’s powers when exempting a retirement fund from a valuation
Is the FSCA obliged to grant an exemption if a fund has met all the conditions set out in Board Notice 59 of 2014?
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
Is the FSCA obliged to grant an exemption if a fund has met all the conditions set out in Board Notice 59 of 2014?
More than a year passed between the employer indicating that it reserved its right to withhold a former employee’s withdrawal benefit and instituting civil proceedings against him.
The Pension Funds Adjudicator also says the conduct of retirement fund administrators during a transfer of administration should be regulated.
The FSCA plans to release the remaining modules in March 2024.
Organisations representing the retirement industry call attention to the ‘problematic’ provisions in the draft legislation for the two-pot retirement system.
There is a view that the High Court’s judgment means the in duplum rule does not apply to section 13A(7) interest.
The member’s benefit was transferred from the money market investment into the fund’s business account.
The document lists 3 262 employers that are at least four months in arrears – and the worst offenders are 20 years behind.
A trustee must attain TKK certification within six months from the date of appointment or election to the board.
SCA also finds that the High Court should not have granted punitive cost orders against the fund.
Interpretation Ruling 1 of 2020 incorrectly brought an unclaimed benefit within the ambit of section 37C of the Pension Funds Act.
The decision clarifies the application of an amended rule to the calculation of a withdrawal benefit that accrued before the amendment was approved and registered.
FST does not accept submission that the impact of Covid on the markets absolved the employer of liability for the loss.
How accessibility and seeding will impact members of defined-benefit retirement funds.
What you should know about reporting, calculating penalty interest, the in duplum rule, and the employer’s liability.
A reviewing body will have grounds to intervene only if a fund fails to take into account relevant considerations and ignores irrelevant considerations.
Collective agreements dealing with retirement funds must be concluded with reference not only to employment laws but also the Pension Funds Act.