Associated Institutions Pension Fund and Others v Van Zyl and Others (268/03)
Associated Institutions Pension Fund and Others v Van Zyl and Others (268/03) [2004] ZASCA 78; [2004] 4 All SA 133 (SCA); 2005 (2) SA 302 (SCA) (17 September 2004)
The Supreme Court of Appeal held that the transfer regulations required the actuary to apply professional actuarial methodology, including the use of assumptions and projections, in determining both the market value of assets and aggregate liabilities for the purpose of calculating the funding percentage. The court rejected the literal and alternative interpretations advanced by the respondents and the court a quo, finding that both the wording and the context of the regulations supported the application of actuarial practice to asset determination. The court further found that the respondent…
Source excerpt
- Judicial Review Of Administrative Action
- Pension Fund Transfer
- Interpretation Of Regulations
- Unreasonable Delay
- Actuarial Methodology
- Substantive Vs Procedural Fairness