oa De Rebus - Breaking up is hard to do, or is it? The clean-break principle explained : feature
|Article Title||Breaking up is hard to do, or is it? The clean-break principle explained : feature|
|© Publisher:||Law Society of South Africa|
|Publication Date||Oct 2013|
|Pages||38 - 40|
This article discusses how spouses married in community of property deal with their pension benefits on divorce. It will be shown that, initially, the pension interest of a member of a pension fund was not regarded as an asset in the joint estate, but the position was changed by the 1989 amendment to the Divorce Act 70 of 1979 (the Act). The 2007 amendments to the Pension Funds Act 24 of 1956 (PFA), which brought about the 'clean-break principle' when spouses divorce, will also be discussed to show that these amendments did not apply to all pension funds in South Africa; hence members of the excluded pension funds have approached the courts in order to force their funds to implement the clean-break principle.
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