Search for: "PFA Pension A/S"
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3 Mar 2022, 4:35 am
On 23 February 2022, the Financial Services Tribunal (FST) reinforced that an employee who does not have a “complaint” as provided for, in section 30A of the Pension Funds Act,1956 (PFA) cannot have recourse under the PFA. [read post]
20 Jul 2021, 3:47 am
The PFA disagreed and referred the matter back again to the fund to apply the PFA’s reasoning. [read post]
13 Oct 2020, 3:27 pm
The principles of equity, despite the equitable jurisdiction of the Pension Funds Adjudicator, cannot override the provisions of the Pension Funds Act (PFA) by permitting a fund to act in contravention of the PFA. [read post]
4 May 2021, 1:29 am
The High Court agreed that the PFA’s decision was final. [read post]
15 Sep 2023, 6:45 am
Since 2020, most retirement funds have been faced with a situation where participating employers have failed to comply with section 13A of the Pension Funds Act, 1956 (PFA), by either underpaying employer or member contributions or not paying at all. [read post]
19 Mar 2017, 11:20 pm
The PFA considered the Children’s Act 2005 (Children’s Act) which changed the majority age to 18 years from 1 July 2007 as well as the Age of Majority Act 1972 which was applicable prior to 2007 and had the majority age at 21 years. [read post]
24 Mar 2021, 5:49 am
In February 2021, the Financial Services Tribunal (“FST”) in L.S Ngqengelele v Afrisam South Africa (Pty) Ltd considered the question of when a fund may withhold and deduct money from a member’s benefit in accordance with section 37D(1)(b)(ii) of the Pension Funds Act (“PFA”). [read post]
1 Oct 2021, 2:09 am
On 21 September 2021, the Financial Services Tribunal (“Tribunal”) in Royal Bafokeng Platinum Limited & Others v Pension Funds Adjudicator & Others, considered what constitutes “misconduct” as contemplated in section 37D of the Pension Funds Act, 1956 (“PFA”) and in which instances a member’s benefit may be reduced. [read post]
28 Mar 2017, 11:54 am
The objects and duties of a trustee of a pension fund are contained in sections 7C and 7D of the Pension Funds Act 1956 (PFA). [read post]
3 Nov 2008, 11:38 am
The Circuit Court summarized the class action as one that arose out of PFA’s theft of funds that it was supposed to have invested, and that sought to hold Merrill Lynch liable under Florida state law for PFA’s fraud “because it allowed PFA to hold itself out as Merrill Lynch’s agent, and because it failed to stop PFA from misappropriating [plaintiff’s] funds. [read post]
22 Aug 2023, 11:22 pm
The court relied on the judgment in National Tertiary Retirement Fund v Registrar of Pension Fund’s (NTRF)as authority for the proposition that a rule amendment that reduces a member’s pension fund benefits may have retrospective effect, provided that it is done in accordance with the rules and the PFA. [read post]
14 Feb 2023, 11:09 pm
In this case, the pension fund had adhered to the Adjudicator’s determination having regard to section 30O of the PFA and had reallocated the allocations to Ms JA’s two children to the deceased’s wife and made payment of same. [read post]
4 Mar 2020, 11:19 pm
In Mbatha v Transport Sector Retirement Fund and Salt Employee Benefits the court also confirmed the accepted principles that: On the death of a member, a pension fund is not bound by a deceased’s will nor by the deceased’s nomination form because s 37C expressly restricts freedom of testation so that no dependants are left without support; and The board of a pension fund has the discretion to administer benefits payable to minor dependants… [read post]
4 Jul 2007, 6:25 am
In July 2001, plaintiff was solicited by Pension Fund of America (PFA) to deposit pension funds with Lehman Brothers in a retirement trust account; believing PFA was the agent of Lehman (it was not), plaintiff invested more than $28 million in PFA through Lehman, id. [read post]
28 Oct 2021, 2:20 am
Aggrieved by the decision, Ms Lipali lodged a complaint with the Pension Funds Adjudicator (PFA). [read post]
7 Jul 2022, 1:13 am
By Riëtte van Laack —On June 14, 2022, the Senate Health, Education, Labor and Pensions Committee voted to pass the FDA Safety and Landmark Advancements (FDASLA) Act (S.4348). [read post]
8 Apr 2014, 3:32 pm
The Senate Committee on Health, Labor, Education and Pensions (HELP) held a hearing on the PFA on April 1, 2014, and the Senate is expected to take up the bill on April 9. [read post]
11 Jul 2022, 12:23 am
The vast majority of military bases in the United States became heavily contaminated with PFAS due to the use of the fire suppressant AFFF. [read post]
3 Nov 2008, 11:39 am
As alleged, an entity called Pension Fund of America solicited IPM to invest agency funds and deposit those funds with Merrill Lynch. [read post]
16 Jun 2023, 10:34 am
These topics range from military-related legal issues to defending against protection from abuse (PFA) orders. [read post]
