Administrator must compensate fund member for tracing failure
It failed to take reasonable steps to trace the member, resulting in the depletion of a small benefit through admin charges, the OPFA says.
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Move to two-pot system drives jump in complaints to the Adjudicator
Outgoing Adjudicator Muvhango Lukhaimane says the system has laid bare long-standing non-compliance with section 13A of the Pension Funds Act.
Labour inspectors to regain power to enforce contribution compliance
The Department of Employment and Labour is withdrawing a determination that prevented inspectors from enforcing section 34A of the BCEA.
Enforcement is the Achilles’ heel in contribution compliance, says Adjudicator
The FSCA, National Treasury, and the Pension Funds Adjudicator tell MPs what they are doing to address the non-payment of retirement fund contributions. Regulatory interventions other than COFI may be in the offing.
Adjudicator to propose holding trustees personally accountable for non-payment of contributions
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
