CATEGORIES
- (33)Agriculture, Land Reform & Rural Development
- (28)Auditors & Accountants
- (8)Broad-based Black Economic Empowerment
- (7)Built Environment
- (69)Communications & Digital Technologies
- (2)Company Law
- (2)Consumer Law
- (23)Courts
- (3)Criminal Law
- (1)Cybercrimes
- (2)Disaster Management
- (16)Education & Training
- (5)Electoral Law
- (109)Environmental Law
- (4)Family Law
- (153)Financial Sector
- (4)Fisheries & Aquaculture
- (8)General Interest
- (23)Health & Safety
- (22)Home Affairs
- (3)Housing
- (22)In the Spotlight
- (1)International Co-operation
- (73)Justice & Constitutional Development
- (59)Labour Law
- (18)Legal Practice Council
- (23)Local & Provincial Government
- (28)Minerals & Energy
- (1)Monetary Policy
- (2)National Development Plan
- (20)National Treasury
- (82)New Legislation
- (20)Opportunities for Public Comment
- (7)POPIA
- (314)Parliament
- (1)Practice Management
- (5)Presidency
- (18)Property Law
- (9)Public Service
- (4)Retirement Reform
- (15)Road Accident Fund
- (26)Safety and Security
- (9)Small Business Development
- (24)Social Development
- (11)Sport, Arts & Culture
- (15)State Owned Enterprises
- (4)State of Disaster (energy)
- (20)Taxation
- (8)Tourism
- (78)Trade, Industry & Competition
- (38)Transport
- (16)Water & Sanitation
- Show All
PENSION FUNDS ACT: RETAIL FUNDS EXEMPTION (AMALGAMATIONS & TRANSFERS)
- 15 July 2025
- Financial Sector
- SA Legal Academy
The Financial Sector Conduct Authority (FSCA) has issued a notice exempting retail funds from sub-section 14(1) of the 1956 Pension Funds Act in the context of amalgamations and transfers. This follows the release of a draft exemption in April 2025 for public comment – with the input received summarised in an accompanying comments matrix. The draft document itself can be found in an SA Legal Academy report published at the time, to which a link is provided below.
The Act’s sub-section 14(1) prescribes the minimum benefits payable to a member in specific circumstances.
According to an FSCA communication on the exemption, it:
- is ‘conditional’ in that it does not to exclude these types of transfers completely from the section 14 application process
- nevertheless provides ‘some regulatory lenience’, and
- ‘still accounts for the protection of members’.
Please click the links below for more information:
- exemption notice
- communication
- comments matrix
- Act (last updated in 2023)
- SA Legal Academy report on the draft exemption released for comment
Published by SA Legal Academy Policy Watch
Follow us on X @SALegalAcademy (you can also join us on LinkedIn and Facebook)