Pension Funds Adjudicator term extended
Lukhaimane was originally appointed to the role in July 2013, making many changes which saw improved efficiency and turnaround time of complaints.
The Office of the Pension Funds Adjudicator(OPFA) “investigates and determines complaints of abuse of power, maladministration, disputes of fact or law and employer dereliction of duty in respect of pension funds.”
OPFA said: “She has managed to integrate work and people processes to achieve greater efficiency. Despite an increase in the number of new complaints, service levels and quality increased significantly owing to regular monitoring and evaluation; and proactive management of performance on the part of staff.
“Within a year of taking up the position as [Pension Fund Adjudicator], Ms Lukhaimane tackled the Herculean task of wiping out the historical backlog of complaints for the first time since the OPFA was established more than 16 years ago.”
Lukhaimane said that she is committed and dedicated to working “even harder at improving stakeholder interaction so that the pension’s dispute resolution forum became more visible to the public.”
She added: “There is need for effective and regular education for actual and possible pension fund participants and retirement annuity policyholders regarding the need to save, planning for retirement, and investing and financial literacy in general.
“This can counteract poor financial decisions by members. This education, however, must start with children at home and in schools.”
Featured What kind of investor are you?
Everyone has a unique investment style. However, certain characteristics can be grouped together to form “investor personalities”.
Can companies request your payslips in the hiring process?
When you apply for a new job, part of the hiring process often involves submitting a current or previous payslip to prove both your salary amount and employment.
Which savings accounts offer the best interest rates?
In South Africa, where household savings remain a national priority, there is a dire need to instil a savings culture. While there are various savings vehicles you could investigate, opening a savings account is undoubtedly one of the simplest.
Interest-free days and interest amounts – what are the limits?
When you open a credit card account with your bank, you will receive certain benefits based, in part, on your credit profile. The number of interest free days and the interest rate are among the credit conditions that will apply.
Breakfast for Two at Spice on Main
When: Mondays to Sundays
Where: Cape Town
Online Course in Event Planning and Management
Relax Spa Massage and Tea Ceremony
When: Mondays to Thursdays
Where: Cape Town