Registrar of Pensions asked to probe long delay in rebuilding fund
FSB had directed that an annual benefit statement must be furnished to each member - The board of a provident fund must comply with its fiduciary duties by itself providing benefit statements to...
View ArticlePFA rules Islamic marriages valid for divorce pension payouts
'PFA ... cannot be party to the perpetuation of injustice and discrimination." - The Office of the Pension Funds Adjudicator has reiterated it will not discriminate against parties married in terms of...
View ArticlePFA lambastes provident fund for 'undesirable business practice'
Minus a contract of employment, no fund membership exists - An attempt by a provident fund to muscle in on a rival fund's membership by getting 69 employees to move across failed after the transfer was...
View ArticlePension Funds Adjudicator reappointed until 2018
There is need for effective and regular education for actual and possible pension fund participants - Finance Minister, Nhlanhla Nene, has extended the term of office of South Africa's fifth Pension...
View ArticlePFA rules fund acted correctly against dismissed worker
The admission of liability letter - A worker who had been dismissed on suspicion of fraud has failed in his attempt to claim a withdrawal benefit after the Pension Funds Adjudicator (PFA) rejected his...
View ArticlePFA orders fund to pay balance of members' benefits
Were investments in CMM and Sharemax prudent and compliant with the Regulations? - A provident fund which paid only half of benefits due because it had invested in companies that went broke has been...
View ArticleJudge rules: PFA's determinations enforceable as a judgement
The determination may be enforced in terms of the provisions of sections 30O of the Pension Funds Ac - The Pension Funds Adjudicator (PFA) has teeth and can bite - her determinations have the same...
View ArticlePFA orders death benefit payment despite time barring of complaint
It was almost 14 years since the deceased had passed away - The Pension Funds Adjudicator has ordered the Mineworkers Provident Fund to investigate and pay a death benefit although a complaint was time...
View ArticleEmployer cannot recover money without compensation order
Compensation in respect of damage caused to the employer by reason of theft - An employer who wishes to recover stolen monies from an employee's benefit must apply for a compensation order.
View ArticleAppeal Court supports PFA ruling on UNISA status
A definition of full-time student cannot be limited to a person who attends classes on a daily basis - The Supreme Court of Appeal has endorsed a ruling by the Pension Funds Adjudicator, confirming...
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