Avoid maladministration by taking charge of your pension

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Pension and provident funds are our insurance for a comfortable retirement. While most people are aware of the need for one, and of the varieties of options available to them, many rely on their company or financial advisor to provide them with a choice that will meet their needs. However, this reliance on accountants and advisors also opens the risk of maladministration of the funds.

South Africa has seen a number of high profile court cases regarding this issue, making it evident that lost benefits are only one of the results of maladministration. The onus is on accountants, payroll managers and financial advisors to ensure that pension and provident funds are managed correctly, that contributions are made properly, and that they meet all the legislative requirements.

An expert in this area, and with over 20 years experience in the payroll industry, Profile Software?s David Brown will be providing an insight into pension and provident fund maladministration at this year?s SAPA (South Africa Payroll Association) Annual Conference, taking place from 5 - 6 September, at Emperors Palace in Johannesburg.

His presentation will cover issues like legislative guidelines for contributions, key legislative interpretations, examples of maladministration, key areas of identification and the effects of such administration. He will also provide insight into the role of HR and payroll in this regard. Payroll and HR managers, as a crucial link in the financial chain, will be able to enhance their knowledge and expertise by attending this talk, and David will be available to answer any particular questions they may have.

"The theme of this year?s conference is "SAPA - Driving Payroll Excellence?, and ensuring that your responsibilities are met and that you have as much knowledge as possible about all elements surrounding payroll form the basis of providing excellent service to your organisation. If you are a payroll or HR specialist aiming for excellence, I look forward to seeing you at my presentation,' Brown said.