n Annual Survey of South African Law - Pension funds law
|Article Title||Pension funds law|
|© Publisher:||Juta Law Publishing|
|Journal||Annual Survey of South African Law|
|Affiliations||1 High Court of South Africa and 2 University of South Africa|
|Publication Date||Jan 2009|
|Pages||1122 - 1136|
The rules of a pension fund are binding on the fund itself, its board, its members, and the employer who participates in the fund. Anything done outside the rules is ultra vires and null and void (s 13 of the Pension Funds Act 24 of 1956; see also Abrahamse v Connock Pension Fund 1963 (2) SA 76 (W) at 79; Chairman of the Board of the Sanlam Pensioenfonds (Kantoorpersoneel) v Registrar of Pension Funds 2007 (3) SA 41 (T)). Pension fund trustees may act only within the powers conferred upon them by the fund rules (see, generally, Tek Corporation Provident Fund & others v Lorentz 2000 (3) BPLR 227 (SCA)).
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