pension

At Bowman Gilfillan we are pleased to offer a service by a group of experienced practitioners who are guiding clients in a rapidly changing environment.

Following significant legislative interventions in 1996, 2001 and 2007, sponsoring employers, pension funds, plan trustees, pensioners, administrators, investment managers, employees, actuaries, auditors and consultants have increasingly felt the need to seek quality legal advice about the intricacies of:

• plan governance;
• administration; and
• investment and risk strategies.

In particular, the introduction of legislation in 2001 to regulate the apportionment and distribution of the value locked up as actuarial surpluses in South African pension funds has piqued interest in the fiduciary and contractual duties of various stakeholders in the retirement industry. This has been followed by an unprecedented wave of regulatory directives and practice notes and, as something of an aftershock, much arbitration and litigation in various tribunals.

Amid all of this, the pension funds industry is not expecting any slowdown in developments as the government proceeds with plans for substantial social security reform. These include the provision of state social security benefits through licensed private operators, and a qualified compulsory savings regime.

our team

The core pension team is made up of four partners: Graham Damant, David Geral, Bob von Witt and Francisco Khoza. All four are members (and former committee members) of the Pension Lawyers’ Association of South Africa (PLA) and members of the International Pension and Employee Benefits Lawyers Association (IPEBLA). Graham, Bob and David are also members of the South African Society for Labour Law (SASLAW). Graham has served as an acting judge of the Labour Court and he and David have served as tribunalists on a number of surplus apportionment tribunals. Bob and Francisco have served as independent trustees on multi-employer funds.

The core team draws regularly on the specialised assistance of a number of experienced practitioners in our Johannesburg (Sandton) and Cape Town offices and our associated Kenyan office.

services

We strive to give practical, user-friendly advice and legal opinions on:

• pension fund and benefits schemes governance, administration, investments, compliance, tax, surplus apportionment and improper use, unclaimed benefits, liquidation, business transfers, and equitable practices.
• drafting rules, amendments, policies, administration agreements and investment mandates.
• dispute resolution (mediation, arbitration and litigation) in various forums:  Pension Funds Adjudicator, Financial Services Appeal Board, Labour Court, Equality Court, High Court and various ombuds.
• representations to registrars, tribunals, FSB, Parliament, SARS and NEDLAC.
• due diligence into administration, valuations, financial statements, rules, minutes, and pension transfers.
• commercial (M&A) advice and drafting involving the transfer of fund memberships, substitution of employers, indemnity against improper use claims and transfer of licences.
• forensic legal services.

why bowman gilfillan?

• Admitted attorneys and qualified, certified effective dispute resolution experts.
• BEE A rating - 100% procurement spend on our services is recognised.
• Independence: we have no exclusive relationship with any particular industry participants and regularly act for different stakeholders, including employers, trustees, administrators, consultants, regulators and service providers.
• Established relationships in the retirement environment and with top specialist counsel.
• Bowman Gilfillan adopted its own Transformation Charter in March 2004, addressing all aspects of transformation, including ownership, human resource development, enterprise development, procurement and corporate social responsibility. Bowman Gilfillan has committed itself to train 50 black and 50 female lawyers to partnership level by 2014.
• Sole South African member of the prestigious Employment Law Alliance (ELA), the world's leading employer orientated alliance, made up of firms from all 50 States of the USA and from more than 300 other cities worldwide
• Sole South African representative of Lex Mundi, a global association with more than 160 independent law firms in all major centres across the globe. This association gives Bowman Gilfillan access to firms that have been identified as the best in each jurisdiction represented.
• Track record in South Africa, Southern and East African jurisdictions (including our associates, Coulson Harney & Associates in Nairobi) and extensive referral network and relationships in the rest of Africa through the firm's dedicated Africa Group.
• Nominated in Best Pension Law Practice category at 2009 Imbase yeGolide Awards (Principal Officers Association)

breakfast with benefits

Keep in touch, up to speed and out of trouble!

You are welcome to join us at one of our regular Breakfast with Benefits seminars. These seminars are an interactive platform where we share our thoughts and experience on pertinent issues and topical developments in the benefits (pensions and medical) environments. The presentations are short and punchy and time is available for many questions and rigorous debate. If you want to receive an invitation to any of our seminars, please contact our marketing department on +27 11 669 9442 or Hansueya Naidoo on +27 11 669 9565.

Industry updates

We send industry updates to our clients and friends on a regular basis.  If you want to receive any of these updates please contact our marketing department on +27 11 669 9442 or Hansueya Naidoo on +27 11 669 9565.

clients

Some of our pension law clients include:

Abacus Umbrella Fund | ABSA | African Oxygen Limited | Alexander Forbes | Anglo American Group Pension Fund | Anglo Platinum | Aon | Avusa Media | BNY Convergex | Cedar Employee Benefits | City of Johannesburg | Columbus Steel | Engineering Industries Pension Fund | Government Employees Pension Fund | Hewlett-Packard | Investment Solutions | Lekana | Liberty Life | Life Healthcare | Maxim Employee Benefits | Metal Industries Provident Fund | MIBFA | Momentum Employee Benefits | Old Mutual | Pick ‘n Pay | SAB Staff Provident Fund | SA Local Government Association | Sanlam | Self Assurance Benefit Administrators | Shell | Simeka | Standard Bank | State Street Bank | Ster Kinekor | Tiger Brands | Transnet | University of the Witwatersrand | UBS