Compliance - Regulatory

Pension Board slammed by PFA for acting on unapproved rule

The board of a pension fund has been slammed by the Pension Funds Adjudicator for ignoring registered rules when computing a withdrawal benefit.

Determination: The Reformed Christians for Truth Church v Merit Legal

Last will has no bearing on pension fund death benefit

A last will is not binding on a pension fund death benefit which is specifically excluded from forming part of the deceased estate.

CASE 16: late submission of claim under individual funeral plan

Policy providing submission of claim within six months from date of death; late submission due to personal circumstances and policy unknown to claimant; insurer unable to show specific prejudice if claim admitted; exercise of equity jurisdiction.