Legislation: Pension Funds Act interpretation ruling mooted

Comment is sought by 13 December on a proposed interpretation ruling affecting the application of sub-section 37(C) of the 1956 Pension Funds Act, which deals with benefits payable upon the death of a member, reports Pam Saxby for Legalbrief Policy Watch. Released yesterday with a supporting memorandum and comments template, the ruling envisaged seeks to address perceived discrepancies between the contents of two documents: an information circular issued in 2010 by the registrar of pension funds and a guidance note on the 2017 default regulations issued in 2018 by National Treasury. Once finalised, the ruling will replace the 2010 circular.