Legal and regulatory update: Regulatory changes and cases impacting retirement funds

In the below legal and regulatory update, Jaya Leibowitz summarises some changes for members, employers and administrators to be aware of, as well as some interesting recent cases in the retirement fund space.

No FSCA approval needed for transfers between retail retirement funds
On 14 July 2025, the Financial Sector Conduct Authority (FSCA) published FSCA RF Notice 8 of 2025, exempting the following transfers from the requirements of section 14(1) of the Pension Funds Act with immediate effect:

Transfers between retirement annuity funds
Transfers between preservation funds
Transfers from a preservation fund to a retirement annuity fund
To protect the rights of retirement fund members, section 14(1) requires transfers between retirement funds to be approved by the FSCA following the submission of all prescribed forms and documents. The FSCA acknowledges that retirement annuity funds and preservation funds are retail funds, meaning that members belong to these funds voluntarily. As a result, any transfer between these funds would be due to an instruction provided by a member who has the right to select their fund provider.

Read full article on https://www.allangray.co.za/latest-insights/retirement/legal-and-regulatory-update-regulatory-changes-and-cases-impacting-retirement-funds/

November 03 2025 By Jaya Leibowitz - Noble Wealth Management