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Pension fund faces backlash for ignoring member's withdrawal instructions
The Star
|October 28, 2025
A PROVIDENT fund has come under fire from the Pension Funds Adjudicator (PFA) for paying out a member's withdrawal benefit without his consent and for failing to comply with the rules of the fund and the Pension Funds Act.
A provident fund has come under fire from the Pension Funds Adjudicator (PFA) for paying out a member's withdrawal benefit without his consent. by File
(File)
In a ruling handed down by Adjudicator Muvhango Lukhaimane, the South African Commercial Catering and Allied Workers Union (SACCAWU) National Provident Fund was found to have acted "in contravention of the rules" after processing a benefit payout despite the member's request that his money be transferred to an annuity account.
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