LEGAL NOTE: SEPTEMBER 2024 – Impact of Accessing your Savings Component in the Two Pot Retirement System
The Two Pot Retirement System will be implemented with effect of 1 September 2024. 10% of the member’s Vested Component (member’s current...
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Food for Thought
Anu Ananmalay
Feb 55 min read
LEGAL NOTE | Section 37C Extent of Dependency
THE FINANCIAL SERVICES TRIBUNAL (FST): In the matter between: Fakazile Anna Khwela, the applicant and Toyota SA Provident Fund; NBC...
280
Anu Ananmalay
Jan 114 min read
LEGAL NOTE | January 2024 Composition of the Board - Number of Trustees on the Board – Rules – FSCA Approval – Textile open provident fund
Summary: Financial Services Tribunal (FST) application for reconsideration of a decision of the FSCA where the FSCA declined to register...
320
Anu Ananmalay
Oct 6, 20234 min read
LEGAL NOTE | Retrospective Rule Amendments
Mudau v Municipal Employees Pension Fund and others [2023] ZACC 26. The Constitutional Court handed down judgment in the matter of Mudau...
170
Anu Ananmalay
Aug 1, 20233 min read
LEGAL NOTE | CHANGES TO MARRIAGE LAWS IN SOUTH AFRICA
Cabinet has approved the publication of the Draft Marriage Bill of 2022 for public comment. The Bill gives effect to the White Paper on...
460
Anu Ananmalay
Jun 26, 20234 min read
LEGAL NOTE: UPDATE ON THE TWO POT SYSTEM
National Treasury issued the revised 2023 Draft Revenue Laws Amendment Bill and 2023 Draft Revenue Administration and Pension Laws...
380
Anu Ananmalay
May 5, 20233 min read
LEGAL NOTE: Section 37C - Dependency of dependants
Introduction This update addresses whether an estranged dependant qualifies for the death benefit which accrues due to the death of a...
560
Anu Ananmalay
Apr 19, 20233 min read
LEGAL NOTE: Recap of recent updates from the FSCA
FSCA: Revised draft Conduct Standard on requirements relating to the provision of a benchmark. Comment is invited on a revised draft...
350
Anu Ananmalay
Mar 6, 20235 min read
LEGAL NOTES Update: Impact of the Budget Speech 2023/2024 on Retirement Funds
On 22 February 2023 Finance Minister Enoch Godongwana delivered his budget speech. He noted that the 2023 budget is being tabled in a...
1030
Anu Ananmalay
Feb 14, 20233 min read
Legal Update February 2023 -Article by the Institute of Retirements Funds Association (IRFA)
New legislation spells name change for Pension Funds Tribunal. The financial services dispute resolution landscape is being radically...
131
Anu Ananmalay
Jan 16, 20235 min read
LEGAL NOTE: Update on the Two Pot system
The so-called two pot system, which was included in the 2022 Draft Revenue Laws Amendment Bill (“the Bill”), was published for public...
3691
Anu Ananmalay
Oct 9, 20226 min read
A Framework for Financial Unclaimed Assets in South Africa – Extracts from the FSCA Discussion Paper
An estimated R88.56 billion unclaimed assets are held by financial institutions across the financial sector. For the purposes of this...
170
Anu Ananmalay
Sep 7, 20223 min read
LEGAL NOTE: September 2022: Draft Taxation Laws Amendment Bill, 2022
The Draft Taxation Laws Amendment Bill, 2022 (“the Bill”) has been published for public comment. The proposed amendments affecting...
520
Anu Ananmalay
Aug 17, 20222 min read
LEGAL NOTE: Two Pot System
2022 Draft Revenues Laws Amendment Bill (Two Pot system) On 29 July 2022, National Treasury released the 2022 Draft RLAB which contains...
840
Anu Ananmalay
Aug 2, 20222 min read
LEGAL NOTE: August 2022
Draft Joint Standard on Cybersecurity and Cyber Resilience Requirements The FSCA and the Prudential Authority (PA) (Authorities) have...
640
Anu Ananmalay
Jul 13, 20222 min read
Arrear contributions: An alert to retirement funds and employers
Purpose This communication is meant to alert retirement funds and employers regarding arrear contributions by retirement funds and...
500
Anu Ananmalay
Jun 2, 20221 min read
New Time-frames to submit formal responses to pension fund adjudicator
The Office of the Pension Funds Adjudicator (“OPFA”) has amended the time-frames for submitting formal responses to PFA complaints. The...
410
Anu Ananmalay
May 10, 20222 min read
Change to section 37D deduction procedures
Deduction of damages suffered by an employer because of theft, fraud or dishonest misconduct by a member In terms of section 37D of the...
820
Anu Ananmalay
May 10, 20223 min read
Budget Update
Aspects of the 2022/2023 budget that impact on retirement funds RETIREMENT FUNDS SUMMARY The proposed Two-Pot System will proceed, with...
310
Anu Ananmalay
Mar 25, 20224 min read
Change in the definition of "Beneficiary"
...members are required to nominate beneficiaries who will receive the family benefit when a member passes away.
3750
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