The credit ombud’s office has been given the added responsibility of handling complaints related to the debt review and debt counselling process, and has received a flood of such complaints – in one case the ombud prevented a bank from auctioning a woman’s house. The credit ombud, Manie van Schalkwyk, has had an influx of…
Under the National Credit Act (NCA), there are limits on how long certain information can remain on your credit profile. The types of information and their time limits are: The details and results of any disputes lodged by you about information on your credit profile: 18 months. Inquiries made regarding your credit record, including the…
You may not access money you have saved in a retirement annuity (RA) fund before the age of 55, unless you emigrate or become permanently incapable of carrying out your occupation as a result of a disability of body or mind, two retirement fund members who complained to the acting Pension Funds Adjudicator (PFA) found…
At a Pension Lawyers Association breakfast earlier this year, acting Pension Funds Adjudicator (PFA), Elmarie de la Rey stressed the need for pension funds to have very clear and simple communication with fund members so that the members better understand how the retirement fund works and what their choices are. This was borne out…
