Pension Transfers

South Africa

Home 2001 Submission Roger Wellsted Chief Actuary Case Study Who owns Surplus Regulation 15 Media Coverage Pension Fund Bill Reserve Value Defined Letter to Actuaries Liability




Who owns the surplus?

Generally, the source of the surplus defines the ownership of it.


If pensioner investments were not used to keep pensions in line with inflation, then the surplus created as a result would belong to the pensioners.

If the company is accountable for making good any deficit caused by excess ill-health claims, then a surplus as a result of these claims could belong to the company.