The excitement and anxiety over the implementation of the two-pot retirement system on 1 September 2024 quickly turned to agony for some retirement fund members whose employers had not been paying over contributions to funds. It used to be that most members...
As I reflect on South Africa's evolving retirement landscape, I see the need to address recent policy shifts, especially the introduction of the two-pot retirement system. At the Financial Planning Institute of Southern Africa NPC (FPI), we remain committed...
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...
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...
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...
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...
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...
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...
“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 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...
