Mudau v Municipal Employees Pension Fund and Others (CCT 142/22)
Mudau v Municipal Employees Pension Fund and Others (CCT 142/22) [2023] ZACC 26; 2023 (10) BCLR 1165 (CC); [2023] 11 BLLR 1109 (CC); (2023) 44 ILJ 2641 (CC) (2 August 2023)
The Constitutional Court held that a pension fund may not apply a rule amendment before it is registered by the Registrar of Pension Funds. The registered rules in force at the time of the member’s withdrawal are binding and must be used to calculate benefits. The Fund’s application of an unregistered amended rule to the applicant’s withdrawal benefit was unlawful and in breach of the Act and fiduciary duties. Retrospective rule amendments, once registered, do not affect legal proceedings already instituted unless the amendment expressly provides otherwise. The Adjudicator and courts must app…
Source excerpt
- Pension Funds Act
- Retrospective Rule Amendment
- Accrued Benefits
- Fiduciary Duty
- Statutory Interpretation
- Adjudicator Jurisdiction