The Taxation Laws Amendment Bill, 2020 (“the Bill”) has been introduced to Parliament.
In terms of section 51 of the Promotion of Access to Information Act, 2000 (“PAIA”), all public and private bodies (including retirement funds) must prepare a PAIA manual.
Conduct Standard 5 of 2020 (RF): Conditions for smoothed bonus policies as default investment portfolios
The Conduct Standard prescribes the conditions with which a smoothed bonus policy must comply in order to meet the definition of “default investment portfolio” as defined in the regulations in terms of the Pension Funds Act.
The Financial Sector Conduct Authority (FSCA) has earlier in the year published FSCA Interpretation Ruling 1 of 2020 (RF) (“the Ruling”, which deals with the applicability of section 37C of the Pension Funds Act to the benefits of paid-up members and deferred retirees.
There is new functionality for the uploading of supporting documents on the Sanlam Corporate online Portal
Sanlam Corporate has developed a comprehensive member engagement framework with various touchpoints on the journey towards retirement that ensures a seamless transition for fund members.