Tribunal dismisses R824 000 claim over delayed fund credit transfer
The FST rejects the member’s loss calculation based on assumed money market returns, affirming that the fund’s rules limit accrual to bank interest.
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Benefit payment hold-up leads to compensation order against fund
The Pension Funds Adjudicator finds that delays in processing a member’s withdrawal and transfer of retirement savings were wrongful and negligent.
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 cannot withhold benefits without precise liability admission
The Tribunal says the Adjudicator should have addressed the fund’s reliance on two acknowledgements of debt stating different amounts.
Retirement fund ordered to pay fraud victim’s R800 000 benefit
A pension fund mistakenly paid out a fraudulent claim to a syndicate while the rightful member was in prison.
Fund rapped for not giving a member a hearing before deciding to withhold his withdrawal benefit
The member, along with two others, was criminally charged because of allegedly fraudulent conduct that cost the employer R4 million.
