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South Africa decisions
Decisions matching the current search
Sentrachem Limited v Terblanche (47159/2011) [2015] ZAGPPHC 936 (9 December 2015)
High Court action for repayment of an overpaid pension fund surplus failed after the court upheld prescription and dismissed the claim with costs.
British American Tobacco Pension Fund v Howie N.O. and Others (9480/2014) [2015] ZAGPPHC 341; 2016 (1) SA 398 (GP); [2015] 3 All SA 55 (GP) (27 May 2015)
The court found that section 15H of the Pension Funds Act is clear and unambiguous, requiring that any credit balances in the member or employer surplus accounts must be reduced by the amount of any deficit, regardless of whether the surplus arose from initial or future apportionments. There is no statutory requirement for immediate back-to-back accounting or immediate distribution of surplus upon approval of the scheme. The Registrar's interpretation that section 15H applies only to future surpluses is unsupported by the language or context of the Act. The surplus apportionment scheme did no…
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Registrar of Pension Fund and Another v Kwazilu-Natal Retirement Fund and Another (3469/2012) [2013] ZAKZDHC 12 (15 April 2013)
The court found that the Registrar's functionaries approved and registered amendments to the respondents' pension fund rules introducing target pensions without being aware of pending appeals and the underlying dispute regarding the nature and funding of target pensions. The respondents failed to disclose the existence of the appeals and misrepresented the purpose of the amendments as clarifying existing provisions, when in fact the rules did not previously provide for target pensions. This constituted a material mistake of fact and law, and relevant considerations were not taken into account…
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