Tag Archives | transfer


Calculation of pension payouts – Complexities of transfers and switching

Parties that are aggrieved by decisions of the Pension Funds Adjudicator may lodge appeals with the Financial Services Tribunal. The Financial Sector Regulation Act, 9 of 2017 (“FSR Act”) considers the Pension Funds Adjudicator as a “decision-maker” and his/her decisions are “decisions” as respectively defined in paragraphs (e) and (d) of section 218 thereof. This […]

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Bulk transfers by FSPs and Insurers

This is the title of an article in the FSB’s FAIS Newsletter 20, which also addresses the shortcomings mentioned at the conclusion of the article above. In instances where the transfer of clients resulted in a change of insurer, it meant that there was a replacement of a financial product. The provision of section 8(1)(d) of […]

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