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PFA lambastes fund over exit fee misstatement

01 June 2017

The Pension Funds Adjudicator has ordered the Discovery Retirement Annuity Fund to refund a member R16 740.65 that was unlawfully deducted as an early exit fee.

FSB asked to act against errant fund administrator

01 June 2017

The Pension Funds Adjudicator has expressed concern that despite referring several matters of non-compliance on the part of Akani Retirement Fund Administrators to the Financial Services Board (FSB), there was no improvement in its conduct.

PFA orders fund to pay punitive damages

31 May 2017

The Pension Funds Adjudicator has reminded funds it is illegal to withhold the benefit of a member who is potentially liable for theft, fraud or misconduct without written admission of liability or a court judgment in respect of the compensation.

Mother fails in bid to claim all of son’s death benefit for herself

06 January 2017

A child born two days before her father’s death has qualified to share in the death benefit on the basis of being a dependant by virtue of being the child of the deceased.

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