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Pension Funds Adjudicator reports 13% increase in complaints from two-pot challenges
The Mercury
|October 07, 2025
THE Office of the Pension Funds Adjudicator (OPFA) recorded a 13% increase in new complaints during the 2024/25 financial year, attributing part of the rise to challenges linked to the implementation of the two-pot retirement system and the withdrawal option.
According to the OPFAs latest annual report, the pensions dispute resolution forum received 10 331 new complaints, up from 9 177 the previous year and finalised 10 100 cases. A total of 239 complaints received between September 2024 and March 2025 related specifically to the two-pot system, which came into effect on 1 September 2024.
The new system allows fund members to access a portion of their retirement savings without resigning from employment. However, the report found that some funds struggled to process the high volume of withdrawal applications. Additionally, others were unable to pay claims due to employers’ arrear contributions.
Noncompliance with Section 13A of the Pension Funds Act, which obliges employers to pay over retirement fund contributions, remained one of the biggest issues.
Denne historien er fra October 07, 2025-utgaven av The Mercury.
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