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South Africa (914) > Social security (general standards) (153)

Name: Pension Funds Amendment Act, 2001 (No. 65 of 2001).
Country: South Africa
Subject(s): Old-age, invalidity and survivors benefit
Type of legislation: Law, Act
Adopted on: 2001-12-06
Entry into force:
Published on: Official Gazette, 2001-12-06, Vol. 438, No. 22922, pp. 1-11 (INFORM - P60720)
ISN: ZAF-2001-L-61007
Link: https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=61007&p_lang=en
Bibliography: Official Gazette, 2001-12-06, Vol. 438, No. 22922, pp. 1-11 (INFORM - P60720)
Abstract/Citation: Amends Pension Fund Act 1956. Provides for definition of "fair value" under Section 1 of the Act. Clarifies position of registered pension fund to furnish guarantees in respect of housing loans granted to members by persons other than the fund, extends the concept of ownership, further regulates amount of loans and guarantees, extends Minister's powers to make regulations, and provides for deduction from deemed benefits in cases of default and transfers to other pension funds. Also deals with some related matters.
Amended text(s):

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