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Pension Law

Pension Law

Victory for pension fund over PFA ruling

By Juta and Company (Pty) Ltd Published on Monday, 01 October 2018
Tags: #Litigation #Pension Law
The Gauteng High Court (Pretoria) has ruled in favour of a retirement fund and its administrator, overturning a determination by the Pension Funds Adjudicator, after a member complained to the adjudicator that he had received less than his expected pension payout because the fund had changed the rules on how the payouts were calculated.

SCA sets out pension fund payment guidelines

By Juta and Company (Pty) Ltd Published on Monday, 04 June 2018
Tags: #Estate Planning & Trusts #Litigation #Pension Law
It is technically legal for one person to earn millions to manage a pension fund, and there is no obligation to use that money to benefit the pensioners who invested in that fund – as long as a court sanctions such a deal. A Saturday Star report says this was the SCA’s conclusion when ruling on a case accusing attorney Anthony Mostert of charging exorbitant fees for one of the 10 pension funds under his curatorship.

Pensioners given go-ahead to recover billions

By Juta and Company (Pty) Ltd Published on Wednesday, 25 April 2018
Tags: #Constitutional Law #Litigation #Pension Law
The Constitutional Court yesterday gave thousands of Transnet pensioners welcome relief when approving their claim to recover billions owed to them, notes Legalbrief. In 2013‚ 60 000 pensioners instituted a class action against the Transport Pension Fund‚ the Transnet Second Defined Benefit Fund and Transnet based on a promise made to them in 1989 that they would receive the same pension benefits under a commercial entity‚ Transnet‚ as they did under the state entity that employed them until then‚ the SA Transport Services (SATS) and its two pension funds.

Transnet pensioners seek billions in 'lost' payments

By Juta and Company (Pty) Ltd Published on Friday, 17 November 2017
Tags: #Constitutional Law #Employment Law #Litigation #Pension Law
About 60 000 Transnet pensioners have pinned their hopes on the Constitutional Court as they seek to proceed with a class action to seek billions from two pension funds. A TimesLIVE report notes that yesterday, the court heard their appeal against a Gauteng High Court (Pretoria) order from last year. Transnet pension fund recipients brought a lawsuit against the Transport Pension Fund and the Transnet Second Defined Benefit Fund and Transnet in the High Court last year.

Ground-breaking ruling on pensions in divorce

By Juta and Company (Pty) Ltd Published on Tuesday, 08 November 2016
Tags: #Litigation #Pension Law
In what a report in The Mercury calls a ground-breaking judgment for couples married in community of property but divorced, the Supreme Court of Appeal has ruled that pensions fall into their joint estate and form part of half of the assets each party would receive. Pretoria divorce lawyer Selwyn Shapiro said that prior to this judgment, there were conflicting judgments as to whether or not a pension interest automatically fell into a joint estate if the parties were married in community of property.

Corrupt procurement officer forfeits half of pension

By Juta and Company (Pty) Ltd Published on Thursday, 01 September 2016
Tags: #Business & Industry Law #Criminal Law #Litigation #Pension Law
A corrupt procurement officer formerly in the employ of a food company in Lambert’s Bay, who was due for retirement in December after 44 years service, has forfeited half of his R2m pension benefits as compensation for the company’s R2.6m loss, says a report on the IoL site. In addition, Daniel Jacobus Poggenpoel (63), a married father of four, was jailed for five years when he appeared in Cape Town's Specialised Commercial Crime Court before Magistrate Constance Nziweni yesterday.

Father’s last will rescinded

By Juta and Company (Pty) Ltd Published on Monday, 22 August 2016
Tags: #Estate Planning & Trusts #Litigation #Pension Law
A brother and sister went to court after their wealthy father made his caregiver a beneficiary in his will, effectively freezing them out of inheriting for 15 years, says a Cape Times report. The consequence of the decision by the late Jacobus Grimbeek was that his children would have to wait out the stipulated period before they could inherit from him.

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