Browsing: Pension Funds Adjudicator

The Municipal Employees Pension Fund has been ordered to release a member’s two pot savings withdrawal benefit after the Pension Funds Adjudicator ruled that the fund relied on a rule that does not apply to defined contribution members and could not use contribution arrears to block access to the benefit.

A grieving mother who waited nearly nine years for her deceased son’s pension death benefit has finally won relief after a pension fund was slammed for governance failures, missing records and a complete lack of accountability.

The Mineworkers Provident Fund has been ordered to pay 15.5 percent interest on a delayed death benefit of R458 358.59 after the Pension Funds Adjudicator found that years of inaction prejudiced dependants waiting for payment.

The Pension Funds Adjudicator will issue summons against non compliant funds as negligent benefit payments and ignored complaints expose serious governance failures.

A pension fund member expecting twins was forced to finance a larger vehicle after delays accessing his savings, prompting compensation ordered by the adjudicator.

Pension fund ordered to pay R5 000 compensation after Adjudicator calls delay in resolving pension complaint “reprehensible”.

A former security guard lost a R1,069 pension benefit after his fund failed to trace him and let monthly fees wipe it out, prompting a repayment order.

The Pension Funds Adjudicator found that a fund failed to properly investigate the financial dependency of a life partner and her children before allocating a death benefit, ordering the fund to reassess and redistribute the payout fairly.

The Financial Services Tribunal dismisses PRSS Solutions’ reconsideration application in a pension contributions dispute.