Opfa Reports Surge In Pension Fund Complaints

The Office of the Pension Fund Adjudicator OPFA has reported a significant rise in complaints from workers following the introduction of the two-pot retirement system on September 1, 2023.

OPFA revealed that it has received 9 177 grievances for the 2023/24 financial year, marking a 25 increase from the previous year.

According to OPFA, most disputes relate to withdrawal benefits and non-compliance with the Pension Fund Act by both public and private sector employers.

In a report presented to Parliament, Pension Fund Adjudicator Muvhango Lukhaimane noted that many of the complaints involve employers defaulting on pension contribution payments.

Explain Verify Two-Pot Retirement System