Pension Funds Act s37D(1)(b)(ii) - the expert view

Section37D(1)(b)(ii) of the Pension Funds Act has historically been used as the basis for requests from employers to Boards of Trustees to withhold member benefit payments where damage was caused to an employer. The Financial Services Tribunal has recently issued a number of rulings on this issue, which has created some uncertainty for retirement fund stakeholders.

On 22 April 2021 the Office of the Pension Funds Adjudicator (OPFA) participated in an IRFA webinar and put forward how it will be dealing with complaints based on this going forward. At the session several questions were posed and the IRFA agreed to provide feedback and facilitate responses from retirement sector experts. The panel we consulted advised that they would prefer to provide the response in the form of a webinar and will deal with some of the practical challenges Funds and employers are currently facing . You are invited to join the panel on 27 May 2021 from 10h00 to 11h30.

The cost for IRFA Members is R250 and for non-members R350. 

The panellists are: 

Nancy Andrews - Chairperson of the IRFA Legal & Tax Committee (Head of Legal Discovery Employee Benefits and Invest) 

Johan Estethuizen - IRFA Legal & Tax Committee Member (Partner Shepstone & Wylie) 

Nondumiso Ntshangase - Legal Advisor at Alexander Forbes

Pieter Cronje -  IRFA Legal & Tax Committee Member (Principal Consultant Momentum Consultants and Actuaries)