South Africa Case Law

Tellumat (Pty) Ltd v Appeal Board of the Financial Services Board (221/2015)

Tellumat (Pty) Ltd v Appeal Board of the Financial Services Board (221/2015) [2015] ZASCA 202; [2016] 1 All SA 704 (SCA) (2 December 2015)

Court

Supreme Court of Appeal

Case number

221/2015

Judges

Mpati, Leach, Wallis, Mathopo, Baartman

The SCA set aside an Appeal Board ruling on pension-fund outsourcing, holding it ignored the wider surplus-distribution scheme and relevant considerations under PAJA.

• Pension Funds Act
• Apportionment Of Surplus
• Outsourcing Of Pensions
• Review Of Administrative Action
• Reasonable Benefit Expectations
• Pension-fund-surplus

Tellumat Proprietary Limited v Appeal Board of Financial Services Board and Others (2234/2014,2849/2014)

Tellumat Proprietary Limited v Appeal Board of Financial Services Board and Others (2234/2014,2849/2014) [2015] ZAGPPHC 26 (30 January 2015)

Court

North Gauteng High Court, Pretoria

Case number

2234/2014,2849/2014

Judge

N.M. Mavundla

The court held that the decision of the Appeal Board was not materially influenced by errors of law and that its approach was correct. The Appeal Board properly considered whether the scheme was reasonable and equitable in terms of section 14(1) of the Pension Funds Act and whether the rights and reasonable benefit expectations of pensioner members were recognized. The court found that the surplus apportionment and the use of the employer surplus account were integral to ensuring fairness to members, especially in the context of a fund approaching dissolution or liquidation. The applicants fa…

Source excerpt

• Promotion Of Administrative Justice Act
• Pension Fund Transfers
• Employer Surplus Account
• Reasonable Benefit Expectations
• Review Of Administrative Action

Sage Schachat Pension Fund and Others v Pension Funds Adjudicator and Others (10983/2001)

Sage Schachat Pension Fund and Others v Pension Funds Adjudicator and Others (10983/2001) [2003] ZAWCHC 56; [2003] 4 All SA 394 (C); 2004 (5) SA 609 (C) (17 October 2003)

Court

Western Cape High Court, Cape Town

Case number

10983/2001

Judge

D H Van Zyl

High Court review concerning a pension fund merger, consultation with members, and whether later regulatory approval displaced the Adjudicator’s determination.

• Pension Funds Act
• Fiduciary Duties Of Trustees
• Merger Of Pension Funds
• Administrative Review
• Reasonable Benefit Expectations
• Retrospective Approval