Eskom Pension And Provident Fund
Refusal to allow transfer to 'living annuity'

I am a deferred pension fund member. At the time I resigned from Eskom (1992) transfer of benefits out of the fund excluded the Employer contributions, so I joined the deferred pensions fund to avoid losing these. The law has since changed to ensure that employer contributions are included. I would now like to transfer all benefits due to me to a 'Living annuity'. The Eskom Pension fund say that I can no longer do this as I missed the possibility under the rules at the time I resigned. I consider this unfair.

I took my complaint to the Pension Funds Adjudicator (PFA). It took them just over a year (and a lot of reminders) for them to announce that the fund has applied its rules. How convenient.

In the meantime Eskom has made it possible for certain very Senior managers to do precisely what I wish to do. I am disgusted with how my application has been handled by the Eskom Pension fund and by the PFA.

Eskom are also pretty lame in their indifference to all but the senior managers, and Legalwise, who handled my communication with the PFA, have done little more than act as a postbox.

I am interested to hear from anyone who has a similar experience with the fund or with the PFA

Company: Eskom Pension And Provident Fund
Country: South Africa
City: Nation wide

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