Cliffe Dekker Hofmeyr is renowned for providing practical and
sound legal advice to its clients. Our Pensions practice carries on this
tradition by proposing rapid solutions to difficult problems that, despite the
legal uncertainty, meet the requirements of all stakeholders without recourse
to costly and time-consuming litigation.
The accelerating reform of the retirement fund industry has
posed unprecedented challenges for all who operate in the industry and for
those who rely on the services of the industry. Often, the reform has been
characterised by poorly-drafted legislation which has created legal uncertainty
and retarded the well-intended progress.
The pension fund aspects of corporate transactions are growing
in importance and investment issues are of increasing importance to pension
schemes.
We represent clients from a wide variety of industry sectors,
multinational corporations in all sectors of the economy, financial
institutions and national regulatory authorities.
Working closely with colleagues in our Finance, Projects and
Banking, Corporate and Commercial, and Dispute Resolution: Litigation and
Arbitration practices, we deliver an all round, client-focused service on a
local and international basis.
Our Pensions team is experienced in advising on a wide range of
matters involving:
- Assisting with the design of financial investment products,
such as checking regulatory aspects of legislation including: Pension Funds
Act, Long Term Insurance Acts, FAIS, FICA, Short Term Insurance, Collective
Investment Schemes; and the subsidiary legislation, circulars and directives
made under those Acts and Schemes
- Advising on best practice for retirement funds in light of
the new corporate governance structure prescribed by PF 130
- Restructuring retirement funds as a consequence of mergers
and acquisitions
- The successful conclusion of disputes before surplus
apportionment tribunals established in terms of section 15K of the Pension
Funds Act Fund restructuring for funds that have been merged
- Involvement in the retirement fund issues related to the sale
of non-core assets by Transnet High-level negotiations on regulatory issues for
financial service providers
- Advising a number of funds and financial institutions on the
exacting fiduciary duties of fund trustees and service providers.
