Kaya 959 Kaya Biz

Pension Funds Adjudicator sees a 13% jump in complaints after the two-pot system rollout.

Loading player...
GUEST – Muvhango Lukhaimane - Pension Funds Adjudicator.

The Office of the Pension Funds Adjudicator (OPFA) recorded a 13% increase in new complaints during the 2024/25 financial year, attributing part of the rise to challenges linked to the implementation of the two-pot retirement system and the withdrawal option.

According to the OPFA’s latest annual report, the pensions dispute resolution forum received 10 331 new complaints, up from 9 177 the previous year and finalised 10 100 cases. A total of 239 complaints received between September 2024 and March 2025 related specifically to the two-pot system, which came into effect on 1 September 2024.

The new system allows fund members to access a portion of their retirement savings without resigning from employment. However, the report found that some funds struggled to process the high volume of withdrawal applications. Additionally, others were unable to pay claims due to employers’ arrear contributions.
7 Oct 4PM English South Africa Business News · Investing

Other recent episodes

South Africans are getting smarter about how they buy cars.

GUEST – George Mienie, CEO of AutoTrader South Africa AutoTrader’s latest data shows that while new car sales remain under pressure, the used car market is holding strong with more than 33,000 vehicles sold in September alone, up 16% year-on-year. But the story beneath the numbers tells us even more…
20 Oct 4PM 19 min

How Digital Lending Is Reshaping South Africa’s Credit Market

GUEST - Ayesha Hatea, Director of Research and Consulting at TransUnion South Africa South Africa’s credit landscape is changing and fast. According to new data from TransUnion, the FinTech lending market is exploding, giving millions of consumers easier, faster access to money through digital platforms and apps. But behind the…
20 Oct 4PM 17 min

Bank of America's South Africa Fund Manager Survey: Back to domestics

GUEST - John Morris, South Africa Strategist at Bank of America South African fund managers are maintaining their bullish stance on local equities while rotating from resources to retailers and food producers, according to Bank of America’s (BofA’s) October 2025 Fund Manager survey. The research shows a net 81% of…
20 Oct 4PM 13 min

South Africa’s R1.5 Trillion Gambling Boom

GUEST - Lungile Dukwana - Acting Chief Executive Officer at the National Gambling Board South Africa’s gambling habits are changing fast and the numbers are staggering. According to the National Gambling Board, the country’s total gambling turnover hit R1.5 trillion in 2024/24 which is a R400 billion increase from the…
20 Oct 4PM 15 min

What South Africa’s Gambling Surge Says About Our Economy

Guest- Frank Magwegwe - GIBS Faculty member and Head of Financial Wellness at Nedbank. South Africa’s gambling habits are changing fast and the numbers are staggering. According to the National Gambling Board, the country’s total gambling turnover hit R1.5 trillion in 2024/24 which is a R400 billion increase from the…
20 Oct 4PM 9 min
All episodes