FSCA Requirements

27 February 2026

Dear Responsible Person,
Section 13A of the Pension Fund Act, 1956 (Act No. 24 of 1956) (“The Act”) and Conduct Standard 1 of 2022 (“The Conduct Standard”), places various duties, obligations and liabilities on employers, funds and Principal Officers of funds related to the payment of pension fund contributions.
 
In terms of Section 13A(8) of the Act, a responsible person refers to a person or persons who are in control of or regularly involved in the management of the employer’s overall financial affairs. These are individuals in an organisation who will be personally liable for any non-compliance with section 13A of the Act.

1. In terms of section 13A(1) of the Act, the employer is obligated to pay to the fund in full any contributions deducted from the members’ remuneration and the employer’s contribution on behalf of members;
2. In terms of section 13A(2)of the Act, the employer is obliged to submit to the Fund the minimum information as prescribed in paragraph3 of the Conduct Standard no later than 15 (fifteen) days after the end of the month in respect of which the payment was made; and
3. In terms of section 13A(3) of the Act, the employer is obliged to pay such contributions into the fund’s bank account no later than 7 (seven) days after the end of the month for which the contribution is payable.

In terms of Section 13A(9)(b) of the Act provided that, where an employer fails to comply with the requirements of Section 13A(9)(a) of the Act, all the directors (in case of a company), all the members regularly involved in the management of the closed corporation (in respect of a closed corporation) , or all the persons comprising the governing body of the employer, as the case may be, shall be personally liable in terms of Section 13A(8) of the Act.

 
In terms of Section 37(1) of the Act, any person who contravenes or fails to comply with the provisions of Section 13A of the Act is guilty of an offence and may be liable on conviction to a fine not exceeding R10 million or to imprisonment for a period not exceeding 10 years, or both such fine and imprisonment.
According to our records, the person who is in control of or regularly involved in the management of the employer’s overall financial affairs is:
 
Director/Owner: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 
If this information is not correct, please send a request for your record to be updated to (This email address is being protected from spambots. You need JavaScript enabled to view it.). Your request must be supported by an amendment confirmation as issued by the Companies and Intellectual Property Commission (CIPC) or an affidavit if your business is not registered with CIPC. Requests for record amendments must be submitted within 14 days of receipt of this communication. No response will be interpreted as confirmation that our records are correct.

1. The name of the Responsible Person on file will be included in the instruction to the service provider who manages the collection of debt on behalf of the BIBC where all efforts to engage directly with the employer have been unsuccessful.
2. The list of companies will be named in the report to the Financial Sector Conduct Authority (FSCA) who publishes this list of companies, in contravention of the Act.
3. The Responsible person will be cited as the person against whom criminal charges are laid for contravention of the Act, with the South African Police Services (SAPS)

 
The Conduct Standard 1 of 2022 document, referred to in this letter, can be viewed on the BIBC website by opening the following link FSCA CONDUCT STANDARD

Kind regards,

Liezel De Wet
Manager: BIBC Retirement Funds Helpdesk