Two-pot update Pension Funds Amendment Bill signed into law on 21 July 2024 The Pension Funds Amendment Act provides for the following Two-Pot related changes:Amendments to the Post and Telecommunications-related Matters Act, 1958, the Transnet Pension Fund...
The ANC's 2024 Election Manifesto yet again raised the concept of prescribed assets whereby retirement funds will be obligated to invest in government approved investments. Similar comments were made in its 2019 election manifesto and has been a recurring...
FSCA update on roll-out and implementation of cross-sectoral conduct of business return for financial institutions The FSCA has published its 'Update on roll-out and implementation of cross-sectoral Conduct of Business Return for financial institutions'. The...
In terms of section 37D(1)(b)(ii), a retirement fund is entitled to deduct an amount from a member’s retirement fund benefit for any damage caused to the employer as a result of theft, fraud, dishonesty or misconduct. In the Moodley[1] case, the meaning of...
The Protection of Personal Information Act, 2013 (“POPIA”) gives effect to the right to privacy as set out in the Constitution. It provides the regulatory framework within which organisations may process personal information thereby giving individuals control over how...
Leanne van Wyk, Director,ICTS Legal Services (Pty) LtdRules can’t be applied before they are registered - the Mudau Constitutional Court case The FSCA’s revamped Trustee Training Toolkit e-learning platform Upcoming changes for unclaimed death benefits - draft...
Leanne van Wyk, Director,ICTS Legal Services (Pty) LtdIt is a risky undertaking to write an update on two-pot now (2 November), as it is in a state of flux. Let’s see if I am proved right or wrong when this edition of Pensions World is published. Recent developments...
Lize de la Harpe, Legal Advisor, Glacier by SanlamNo person is by nature able to act on behalf of another - he or she must have the necessary authority to do so. This authorisation is commonly given in the form of a power of attorney, which is a formal document by...
Lerato Lamola-Oguntoye, Associate Director & Analisa Ndebele, Associate at Webber WentzelThe popularity of cryptocurrencies stems from the fact that trading takes place in an anonymous environment where individuals may use pseudonyms and do not interact face to...
Sameer Kumandan, Managing Director, SearchWorks Following South Africa’s financial greylisting by the Financial Action Task Force (FATF), the global financial crime watchdog, for not fully complying with international standards around the prevention of money...
