Trustees now have ‘clear guidance’ on dependency and benefit allocations
Dependency is assessed at the member’s date of death, and trustees must conduct active investigations and apply a principled equitable allocation process.
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Treasury publishes tax changes affecting pensions, trusts, and individuals
In addition to foreign pensions and trust income, the measures affect death benefits, child maintenance, capital distributions by unit trusts, and assessed losses.
FST upholds FSCA’s revocation after employer trustees excluded from vote
The Tribunal agrees with the Authority that the rule amendment was void because the employer-appointed trustees were asked to leave the meeting during the deliberations.
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.
ConCourt clarifies scope of section 30P of the PFA proceedings
The Adjudicator breached audi alteram partem by making adverse findings about a Fund’s investigation without giving it a substantive opportunity to respond.
Apex court clarifies timing of dependency test for death benefit payouts
The Constitutional Court rules that whether someone qualifies as a dependant must be determined as at the date of a retirement fund member’s death, not when the fund decides how to distribute the benefit.
FSCA publishes final Conduct Standard for benefit administrators
A breakdown of the provisions that are in effect now, and those that come into operation in six or 12 months.
Funds must fully verify dependency before allocating a death benefit
The Constitutional Court finds that a fund relied on unverified, one-sided information and failed to establish the extent of factual dependency.
FSCA eases section 14(1) rules for retail retirement fund transfers
The final Notice removes confusing references to section 14(8), but calls for a wholesale carve-out of retail-to-retail transfers were turned down.
SARB: Two-pot system adds two percentage points to PIT growth
Even after record withdrawals, retirement fund assets expanded in the third and fourth quarters of 2024, driven by movements in financial markets.
Alexforbes sharpens retail focus as it posts double-digit growth across key metrics
Alexforbes has launched Alexforbes One, its third umbrella fund and first designed for both internal consultants and IFAs, marking a major step in its strategy to strengthen ties with advisers.
Adjudicator asks FSCA to act against ‘unresponsive’ retirement fund
Muvhango Lukhaimane says the SALA Pension Fund’s refusal to engage with her Office’s enquiries constitutes a breach of the fund’s fiduciary obligations.
Retirement fund held to PFA’s jurisdictional requirements
Enforcement of the Adjudicator’s orders must proceed where the employer-municipality resides and where the unpaid contributions arose.
Strict test for discharging an interdict: lessons from Cadac Pension Fund ruling
The judgment underscores that, absent a fundamental shift in facts or law, courts will not allow steps that could prejudice unresolved disputes over member rights.
Benefit allocation | When may a retirement fund consider DNA testing?
When the paternity of a retirement member’s child is in doubt, boards must tread a fine line between equitable distribution and undue intrusion.
Two-pot’s billion-rand bill: future fund members could carry the cost
The FSCA finds wildly inconsistent withdrawal charges under the two-pot retirement system, with some members paying up to R750 per transaction.
FSCA overstepped its authority on retirement fund exemption time limit
The Tribunal finds the FSCA acted beyond its legal authority by imposing a three-year time limit on an exemption, reaffirming a key precedent on regulatory overreach.
