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Pension Funds adjudicator appointed

Jun 28 2013 16:20
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Pravin Gordhan told a Bank of America Merrill Lynch conference that South Africa would maintain social spending at levels that improved living conditions for millions of people. (AFP)

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Johannesburg- Ms Muvhango Lukhaimane has been appointed as the country’s pension funds adjudicator‚ Finance Minister Pravin Gordhan announced on Friday.

Her appointment takes effect on 1 July 2013 and ends on 31 July 2016.

Lukhaimane currently serves as deputy pension funds adjudicator‚ having been appointed from 1 June 2012. She is now appointed as the pension funds adjudicator.

She is an admitted Advocate of the High Court and has experience as a university lecturer‚ legal advisor in personal and employee benefits‚ and also as the Principal Officer of a large retirement fund for employees of a major public entity.

The implementation of the Twin Peaks system of financial regulation and supervision will see the FSB transforming into a fully-fledged market conduct supervisor‚ and these appointments should be seen as providing continuity and facilitating the transition towards the new regulatory system Gordhan said.

The FSB will‚ under the Twin Peaks system‚ focus almost exclusively on market conduct regulation and supervision‚ while the South African Reserve Bank will become the prudential regulatory authority.

Gordhan also announced two other appointments on Friday.

Ms Rosemary Hunter has been appointed as deputy executive officer for Pensions while Ms Caroline da Silva is the new deputy executive officer for Financial Advisory and Intermediaries Services.

Hunter replaces Jurgen Boyd‚ who was appointed as deputy executive officer for Collective Investment Schemes at the Financial Services Board (FSB) from 1 January 2013 to 31 December 2017.

Hunter is an attorney and Director at Bowman Gilfillan Incorporated‚ and is a highly experienced legal expert on retirement fund and investment law issues‚ having been the lead author of the pension law textbook “The Pension Funds Act: A Commentary”.

Her wide experience includes litigation‚ drafting of legislation‚ lecturing and advisory services.

Da Silva replaces Gerry Anderson‚ who has been deputy executive officer since 2004 and now serves as chief operating officer and acting deputy executive officer for Intermediaries at the FSB.


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