A High Court hears details of an elaborate fraud in which scammers cleaned out a bank account and bought cryptocurrency from a part-time trader.
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The Financial Services Tribunal (FST) has upheld a determination by the Pension Funds Adjudicator that a security guard who lost the use of his right arm following a shooting did not qualify for […]
A former Nedbank employee whose withdrawal benefit was withheld has failed to convince the Financial Services Tribunal (FST) to have the Pension Funds Adjudicator reconsider her decision to dismiss his complaint. At Nedbank’s […]
The Financial Services Tribunal has dismissed an application by a fund member’s daughter to have the allocation of her late father’s entire death benefit to her mother reconsidered on, among other grounds, that […]
The FSCA has exempted retirement funds from using the formats in Board Notice 77 when preparing financial statements as long as they use the revised report formats approved by the Independent Regulatory Board […]
Business Day reported on an FSCA briefing for the select committee on finance on Tuesday on the current status of the Conduct of Financial Institutions (Cofi) Bill. “The Treasury is processing the bill. […]
The Supreme Court of Appeal’s “deeply disturbing” decision in the case of Municipal Employees’ Pension Fund vs Pandelani Midas Mudau puts at risk the accrued retirement benefits of millions of fund members, says […]
The Municipal Employees Pension Fund (MEPF) and its administrator, Akani, have won another court case – this time in the Supreme Court of Appeal (SCA) – that upheld the retrospective application of an […]
The Constitutional Court has ruled that the Pension Funds Adjudicator has jurisdiction to hear cases where the complainant was unlawfully admitted as a member of a retirement fund. The court’s ruling clarifies how […]
The Gauteng High Court has overturned a determination by the Pension Funds Adjudicator, ruling that she exceeded her jurisdiction and did not follow a fair procedure when deciding that a fund’s amended rule […]
Two recent applications before the Financial Services Tribunal – in which the facts of the cases were virtually identical – have highlighted that the Pension Funds Adjudicator does not have jurisdiction over complaints […]
The draft conduct standard on the “Requirements related to the payment of pension fund contributions”, which will replace Regulation 33 of the Pension Funds Act (PFA), was submitted to Parliament in December last […]
Retirement funds should ensure employers are aware of their obligation to pay contributions, even while their employees are absent from duty. This was said by the Financial Services Tribunal when it upheld a […]
Retirement funds should ensure employers are aware of their obligation to pay contributions, even while their employees are absent from duty. This was said by the Financial Services Tribunal when it upheld a […]
Parliament’s Standing Committee on Finance has rejected a proposed amendment to the Pension Funds Act (PFA) that would allow retirement fund members to take out loans of up to 30% against their pension […]
The FSCA has withdrawn a proposed conduct standard for retirement fund investments in hedge funds, saying subsequent events have made the standard unnecessary. The draft standard was published by the erstwhile Financial Services […]
The SA Revenue Service (Sars) has issued Binding General Ruling 58, which sets out the approvals by the Sars Commissioner when purchasing an annuity at retirement. This follows the withdrawal of General Notice […]
