General update before I dive into the topic: The South African retirement fund landscape has been undergoing significant shifts since the introduction of the Retirement Reform. The said reform started with discussions back in 2007 with the discussion paper...
Industry Updates

Retirement sector endorses the reputation and mandate of leading industry body
As stakeholder needs and opinion are crucial to the overall strategic direction of the Institute of Retirement Funds Africa, in July and August the industry body undertook an engagement and reputation monitor, employing the services of an independent...
Recent developments in section 37D(1)(b)(ii) and withholding of benefits
In the Financial Services Tribunal (FST) decision in Rand Mutual Assurance Co Ltd v TJ Begwa and others (Case No PFA19/2024 - 15 August 2024), the FST ruled that an employer's compliance with the audi alteram partem rule (hear the other side) does not...
Financial advice and the “new dawn” of the retirement matrix in SA A new chapter in South African retirement reform
On 21 July 2024, President Cyril Ramaphosa signed the Pension Funds Amendment Bill (PFAB) into law, marking an important milestone in South Africa's retirement reform. This new legislation paves the way for the two-pot retirement system, which aims to...
Why you should consider attending industry conferences
Attending industry conferences can be a game changer for professionals across various fields. These events offer a unique blend of learning, networking, and personal growth opportunities. Industry conferences bring together professionals, experts and...
Two-pots food for thought
At the early stages of the Covid-19 lockdowns, the Organisation for Economic Co-operation and Development (OECD) in June 2020, published a paper called “Retirement savings in the time of COVID-19”. It identified amongst some of the main challenges arising...
The Institute of Retirement Funds Africa’s bold new identity signals a future of growth, inclusion and giving IRFA embarks on a new journey with its “Better Together” branding initiative
“Join us as we move forward, 'Better Together,' towards a future filled with promise, progress, and prosperity for all.”The Institute of Retirement Funds Africa (IRFA) has introduced its new brand identity, centred around the tagline "Better Together." IRFA...
The Financial Services Tribunal, the Ombud Council and Pension Funds Adjudicator – who does what?
The Office of the Pension Funds Adjudicator (OPFA) is inter alia subject to the functions of both the Financial Services Tribunal (FST) and the Ombud Council. These bodies have been established with the adoption of the twin peaks model of regulation in South...
Stumbling blocks turned into stepping stones
Recently, I had the privilege of chairing the Financial Planning Standards Board's (FPSB) global Chief Executive Committee meetings, where representatives from various regions shared updates about the financial services industry within their territories....
An update from the Financial Planning Institute
We're already well into mid-quarter one of 2024, a year that began with robust hearings by the Standing Committee on Finance (SCOF) in Parliament, primarily focusing on the 2023 Tax Laws. We have the budget speech on 21 February 2024 - by the time you read this...
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