The Companies Amendment Bills impose crucial changes to remuneration disclosure and shareholder approval that trustees must integrate into their governance practices.
Actuarial calculations may affect the costs and time for defined-benefit fund withdrawals, depending on the rules of the fund and the complexity involved.
The Cabinet is considering introducing new asset classes to leverage retirement savings for industrial financing.
The FSCA says submissions have either not been in the prescribed format or contain incorrect information.
The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
The member, along with two others, was criminally charged because of allegedly fraudulent conduct that cost the employer R4 million.
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 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.
