n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - Can inaccurate benefit statements lead to pension fund liability under the South African Pension Funds Act : analyses
|Article Title||Can inaccurate benefit statements lead to pension fund liability under the South African Pension Funds Act : analyses|
|© Publisher:||Juta Law Publishing|
|Journal||SA Mercantile Law Journal = SA Tydskrif vir Handelsreg|
|Affiliations||1 University of the Witwatersrand|
|Publication Date||Jan 2011|
|Pages||448 - 463|
Imagine that a pension member has received inaccurate annual pension benefit statements from a pension fund for a period of more than ten years. He relies on the financial information contained in the benefits statements to plan his retirement and retire early from his pension fund (without which he would not have retired early), only to find out after his retirement that the benefit statements were inaccurate. If this member sued the pension fund, should the fund be held liable for maladministration in having sent inaccurate benefit statements to this member? This question has received conflicting rulings from the Pension Funds Adjudicator (Adjudicator) in two cases: Bona v South African Local Authority Fund & Another ( 1)  10 BPLR 2563 (PFA) and Naicker v Orion Money Purchase Pension Fund  3 BPLR 3218 (PFA).
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