Pension fund member complaints up significantly
The pension fund adjudicator has seen an increase of more than 10 000 cases year on year or a massive 38%. The great news for those of you who are sceptical about how your complaint will be handled will be extremely happy to note that 83% of the complaints were ruled in favour of the complainant and...
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Expat South Africans can transfer retirement Investments overseas...
In recent years, Expat South Africans living in the UK, USA or Australia in particular, have seen their retirement/pension payouts reduced by enormous amounts once transferred to the country they now live in due solely to the currency fluctuations. If this is your scenario as a South African expat,...
Pension fund adjudicator – Antoinette Muvhango Lukhaimane...
As a follow up to the article that indicates the increased level of complaints against pension fund administrators and the current pension fund adjudicators record of dealing with these cases, we thought you would like to know a little about the person who adjudicates the cases brought before the...
Pension fund member complaints up significantly...
Posted by pension-admin on Nov 10, 2016The pension fund adjudicator has seen an increase of more than 10 000 cases year on year or a massive 38%. The great news for those of you who are sceptical about how your complaint will be handled will be extremely happy to note that 83% of the complaints were ruled in favour of the complainant and...
Retirement fund switching must be in the best interest of the members...
When an employer decides to switch their employees retirement savings from a stand alone retirement fund/Umbrella fund to a different fund, the over riding decision needs to be based on the switch being in the best Interest of the fund members. To give you an idea, in 2000 there were around 15 000...
Retirement – Pension fund advice...
At retirement, if you have worked in a corporate company, you will be part of the companies group pension fund or other retirement saving mechanism. The employee, as well as the employer make a contribution to the pension fund for the benefit of the employee subject to the rules of the pension...
Have something to retire to!
So many people retire a long time before they have imparted that wealth of knowledge on to someone who can really benefit from that knowledge and as part of your retirement plan, you should consider mentoring or helping someone who is driven and you can assist to get a head start. The result will be...
How is a pension or retirement benefit split in a divorce?...
The maintenance act in South Africa makes allowance for a retirement benefit to be split in a divorce. There are only 3 Acts which make it possible for a court to rule on the division of a pension benefit, the Maintenance Act, the income tax act and pension funds act, any claims that fall outside...
Can I borrow money from my pension fund?...
We are often asked if a fund member can borrow from the fund that they contribute to or use the fund as security against a loan from a financial institution. You cannot use your fund as security under any circumstances. This is specifically laid out in the Pension Funds Act. If your fund rules permit,...
Alternative Energy and Solar Products available...
As the energy crisis deepens in South Africa, both business and consumers are seeking alternative energy solutions. These energy solutions are taking the form of Solar, Natural or LP gas, Wind and many other innovative energy generation and storage systems that entrepreneurs around the World are coming up...
Contingency fees – The Act and what it means if you are represented on a contingency fee basis...
In certain cases it may be difficult for a person to deal with the paperwork, submit applications/forms correctly and in the right manner in order for an application for surplus funds or other claim against an insurance company/fund administrator. In circumstances where language and understanding...
Tax Free Savings in South Africa...
There are various investment instruments which fall under the tax free savings savings of which ETF’s and Unit trusts are arguably the most significant. The funds that qualify under tax free savings cannot charge performance fees, only a flat fee, so if you are invested in ETF’s or unit...
R456 Million in unclaimed benefits at GEPF...
There are around 17 000 people out there who are entitled to a piece of the unclaimed benefits fund from the GEPF (Government Employees Pension Fund) so if you have worked for the Government or had a family member (deceased or living) that once worked for the Government in some form, then you may...
