The Need for Effective Management of Pension Fund Schemes in South Africa in Order to Protect Members' Benefits

Over the years, the legislature has attempted to reform the South African retirement industry by amending legislation dealing with pension funds in South Africa. However, not much attention or debate has been accorded to the manner in which pension funds are managed in South Africa, more particularly in academic circles. There is nothing worse for employees who are pension fund members to learn that their pension fund has been mismanaged and that this might lead to them not receiving their benefits when they exit the fund. This article advocates for effective management of pension funds, and proposes that company law principles relating to corporate governance should be followed by boards of trustees who manage pension funds