SA stocks and long-term government bonds are cheap, but not excessively so

How foreign investors and rating agencies view the outcome of the general election will affect the direction of bond yields and equity prices.

Penalties loom for non-compliance with OPFA information requests

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

Sars ruling highlights need to understand implications of investing in hybrid offshore pension products

South Africans are increasingly mobile, either working abroad, staying abroad for extended periods, or opting to retire outside of South Africa. This has increased the focus on foreign pension products because South African […]

Budget proposes changes to the tax regime of retirement funds

The government proposes to address anomalies in the Income Tax Act to ensure that members of pension and provident funds are treated alike, according to proposals announced in the Budget Review. The anomalies […]

Update on endorsement of rule amendments of retirement funds

In a recent communication, the Financial Sector Conduct Authority (FSCA) informed the retirement fund industry that it is in the process of finalising the endorsement of (urgent) amendments to rules of funds received […]

Regulation in the time of COVID-19 and beyond – Trends impacting retirement funds

“The retirement funds sector in South Africa has seen significant change in the past few years – with the focus largely on stronger regulation to protect the interests of members. There can be […]

Unclaimed benefits – The problems persist

The problem with unclaimed benefits is decades old. Each year various statistical reports add up the billions and initiatives are launched to track the beneficiaries of the unclaimed funds. Will the latest drive […]

Clarity on beneficiary nominations – Does dependent outrank beneficiary?

The Pension Funds Adjudicator recently ruled that a death benefit was distributed fairly although one of the beneficiaries was not financially dependent on the deceased. “The entitlement stems from the fact that the […]

Financial reporting – Exemption for certain pension funds

The FSCA has just published PFA exemption notice no. 3 of 2019 that exempts certain funds from the requirements of sections 9a and 16 of the Pension Funds Act. What does the PFA […]

Deductions from pension fund proceeds – Tribunal clarifies the “what and when”

When can an employer claim against an employee’s retirement fund? How is the deduction determined, and is it legal? Can a pay-out be delayed as a result of money owed to the employer? […]

Proposed closure of Pension Funds

The Registrar of Pension Funds published Notice 4 of 2017 which gave notice of its intention to cancel a substantial number of funds in response to applications from fund administrators. Any person aggrieved by […]

Prohibition of Inducement and Acceptance of Gratification

The Registrar of Pension Funds published, for comment, a draft Directive to determine conditions in respect of inducements and acceptance of gratification to ensure compliance with and to prevent contraventions of the objectives […]