Poor governance behind most complaints to pension funds adjudicator

It is a criminal offence for employers to withhold contributions they are obliged to pay, however successful prosecutions are rare

Poor governance within funds and administrators is the reason behind most complaints to the pension funds adjudicator, it has emerged.

Adjudicator Muvhango Lukhaimane said, after releasing her office’s 2017-2018 annual report, that fund members have been forced to complain after things that should have been dealt with are left hanging, resulting in thousands of complaints and stretched resources at her office.

Proceed to Source : BusinessLive

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Court victory for municipal pension fund a blow for members

The high court in Pretoria has ruled in favour of a retirement fund and its administrator, overturning a determination by the Pension Funds Adjudicator, after a member complained to the adjudicator that he had received less than his expected pension payout because the fund had changed the rules on how the payouts were calculated.The matter, with Akani Retirement Fund Administrators, the Municipal Employees Pension Fund (MEPF) and the Dr JS Moroka Local Municipality as respondents, pertained to a complaint brought by John William Masangu to the adjudicator, Muvhango Lukhaimane.

Proceed to Source : IOL

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