Member’s withdrawal bid denied as two-pot rules exclude legacy RAs
The Pension Funds Adjudicator rules the fund acted within the law when it refused a member’s request to dip into his FlexiPension plan.
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FSCA moves to simplify RA and preservation fund transfers
In response to industry calls, the Authority has drafted an exemption from the section 14(1) process for retail retirement funds.
Legally wed, financially left out: wife denied pension benefit
The FST has upheld a ruling that a legal spouse must still prove financial dependence or be nominated to receive a share of a deceased member’s pension benefit.
Survey highlights the role of BEE in shaping retirement fund investments
Alexforbes’ latest annual Manager Watch Survey also shows the trend of increasing allocations to multi-managers.
FSCA confirms first-day calculation for late-payment interest
The revised interpretation, which reverses the Authority’s earlier guidance, aligns with the Office of the Pension Funds Adjudicator’s view.
Updated regulatory framework aims for ‘fair customer outcomes’ in pension administration
The Conduct Standard outlines a series of updated requirements for benefit administrators, including governance enhancements, risk management protocols, and processes for ensuring fair outcomes for fund members and beneficiaries.
Groceries, gadgets and gaps: where two-pot savings are really going
Sanlam reports that most withdrawals came from financially strained members in mid-life, with little evidence that funds were used to reduce debt. Instead, spending patterns suggest pressure to cover everyday expenses.
Retirement pot withdrawals could undermine long-term savings
Danie van Zyl of Sanlam Corporate Investments warns that allowing access to retirement components in retrenchment cases might jeopardise long-term savings and place added pressure on trustees.
FSCA probes complaint processes amid surprisingly low filing rates
A survey shows that only 8% of consumers lodged complaints with financial institutions between 2021 and 2023. Does this figure reflect genuine satisfaction or signal barriers in the complaint process?
Amended Conduct Standard for section 14 transfers takes effect
The Authority has withdrawn the temporary exemption for retirement fund transfers, signalling the full implementation of updated regulatory requirements.
Retirement fund assets reach R5.84 trillion
The FSCA’s latest Retirement Funds Statistical Report highlights trends in fund membership, asset growth, and investment performance.
FSCA’s contingency plan: navigating COFI delays and licensing overhaul
The FSCA is preparing for the massive task of migrating about 12 500 financial services providers into the new COFI framework.
Levies and fees weighed as PA prepares to regulate CISs and retirement funds
The PA shared an update on the six workstreams focused on the transition, confirming that they will be ready to regulate CISs and retirement funds by 1 April 2026.
Budget: Key changes for taxpayers and investors
Watch Moonstone Update for an overview of some of the stories covered in the past week’s Investment Indicators and Moonstone Monitor. This weeks update focuses on the budget Income tax brackets, medical tax […]
Revised unit trust fund classifications: early impact in focus
The new SA Multi Asset SA High Equity category is expected to gain traction over time, despite slower uptake in the early stages.
How climate change could erode your retirement savings – actuaries sound the alarm
Despite record-breaking global temperatures and escalating climate risks, most South African retirement funds lack climate policies – raising concerns about the long-term sustainability of their investments.
Akani-CINPF dispute with NBC: SCA states reasons for dismissing appeal
The Supreme Court of Appeal did not address the substantive issues, finding that a change in circumstances rendered the appeal moot.
