Failure to act timeously over arrear contributions places members’ benefits at risk
Over half of the awards issued by the Pension Funds Adjudicator for complaints about unpaid contributions were affected because part of the claim had expired.
The contract went through 10 iterations between July 2019 and March 2020, with the term ‘infectious and contagious diseases’ variously in or out.
Read moreOver half of the awards issued by the Pension Funds Adjudicator for complaints about unpaid contributions were affected because part of the claim had expired.
The FSCA has launched the second and final batch of the 22-module online course for board members of retirement funds.
The FSCA publishes its latest list naming thousands of entities that allegedly owe retirement fund contributions.
The FSCA expects to receive a large number of amendments, so it would like to have prior sight of the proposed amendments beforehand.
Interpretation Ruling 1 of 2020 incorrectly brought an unclaimed benefit within the ambit of section 37C of the Pension Funds Act.
The Minister of Finance responds to the Standing Committee on Finance’s call for the implementation date to be moved to 1 March next year.
The finance committee’s decision seems, in part, to be based on the assumption that some fund administrators will be ready to ‘go live’ on 1 March next year.