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Published:
Oct 25, 2004Keywords:
Retirement funds defined benefits defined contributions conversion apportionment of surplus
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The Conversion of Members' Rights in South African Retirement Funds from Defined Benefits to Defined Contributions and the Statutory Apportionment of the Resulting Actuarial Surplus
Abstract
This paper reviews and discusses the history of the conversion of members' rights in South African retirement funds from defined benefits to defined contributions. It explains the development of the law in this regard, including legislation governing the apportionment of surplus on conversion. It draws lessons from the process and discusses its ongoing effects.
Keywords: Retirement funds; defined benefits; defined contributions; conversion; apportionment of surplus
South African Actuarial Journal Vol.4 2004: 1-62
Keywords: Retirement funds; defined benefits; defined contributions; conversion; apportionment of surplus
South African Actuarial Journal Vol.4 2004: 1-62
