RAF’s balance sheet delivers a brutal reality check
The return to the GRAP accounting standard has put R452.4bn of liabilities back on the books – more than nine times the RAF’s annual income of R48.1bn.
#RAFclaims
Waseem Carrim takes over RAF as claims and governance crises mount
The new CEO inherits a Fund grappling with a large claims backlog, mounting legal costs, and management instability.
SCOPA blames RAF’s litigation failures for billions in legal costs
The committee says delays in investigating and settling claims, combined with a chaotic approach to litigation, have driven much of the Fund’s escalating legal bill.
Why did one law firm get 90% of RAF Corporate Panel work?
An arrangement intended to cost R10m for 10 months ran for years, absorbed R26.6m in seven months, and included claims work outside its scope.
RAF’s 25% contingency-fee cap under scrutiny
SCOPA says linking attorneys’ success fees to claim values may create incentives to inflate claims, while billions in legal costs flow through a small group of firms.
RAF faces surge of almost 160 000 claims after SCA ruling
The revived RAF 1 Form claims could create billions of rands in additional liability, with the Fund’s first-quarter average payment illustrating the potential scale of the exposure.
RAF pays R8.9bn in quarter, but payment queue grows
From loss of earnings to plaintiff attorneys, the quarter’s figures offer a closer look at where the RAF’s money is going.
SCOPA finds RAF failed experts, then tried to let their claims expire
Years of payment delays, missing invoices, and weak administration left medical experts unpaid, before the Fund sought to invoke prescription against some claims.
SCA ruling revives rejected RAF claims – and backdates the bill
A Court-ordered reset of the RAF claims process may force recognition of previously excluded liabilities, with potentially severe consequences for the Fund and the fiscus.
