SOUTH AFRICA - The Financial Services Board (FSB) has confirmed that the imminent pension reform will iron out any ambiguities regarding the legality, or lack thereof, within the practice of bulking by pension fund administrators.
Earlier this year, the FSB claimed bulking was unlawful. This practice sees administrators consolidating credit balances of pension fund bank accounts, procuring a higher rate of interest from the ...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
