BOOKMARKS
FINANCIAL & ADMINISTRATION SERVICES
OVERVIEW The mission of the Office of the Ombud for Financial Services Providers (FAIS Ombud) is to promote consumer protection and enhance the integrity of the financial services industry through resolving complaints impartially, expeditiously and economically. The objective of the FAIS Ombud is to consider and dispose of complaints by clients against financial services providers in a procedurally fair, informal, economical and expeditious manner, and by reference to what is equitable in all circumstances. In the investigation and disposal of a complaint, the FAIS Ombud acts independently, impartially and objectively. The complainant and any other party to the complaint are expected to give their fullest cooperation to the disposal of the complaint within a reasonable time. The services of the FAIS Ombud are not similar to those of a professional legal adviser and are confined to the mediation, conciliation or determination of complaints in terms of the FAIS Act and the Rules.
OFFICE BEARERS Ombud: Adv Nonku Tshombe Chief Financial Officer: Mr Shaunil Maharaj Communications Officers: Ms Mpho Diako (HR Practitioner)
FINANCIAL INFORMATION* AUDIT OUTCOME FINANCIAL POSITION
2019/20
2018/19
2017/18
Clean Audit
Financially Unqualified
Clean Audit
R’000
R’000
R’000
41 009
16 701
5 535
2 772
2 362
1 713
43 781
19 063
7 247
1 870
1 469
3 459
-
-
-
Total Liabilities
1 870
1 469
4 359
Total Net Assets
41 911
17 594
3 788
64 385
54 870
49 421
1
23
n/a
64 384
54 847
n/a
Total Expenditure
(39 768)
(41 063)
(47 350)
Employee Costs
(26 474)
(24 559)
(30 045)
24 617
13 806
2 071
Current Assets Non-Current Assets Total Assets Current Liabilities Non-Current Liabilities
FINANCIAL PERFORMANCE Total Revenue Exchange Transactions Non-Exchange Transactions
Surplus/(Deficit) for Year
CASH FLOW Operating Activities
3 729
(464)
2 469
(1 467)
(1 517)
(738)
Cash & Equivalents – Year End
3 429
1 636
3 617
UIFW EXPENDITURE**
3 783
5 263
3 483
Investing Activities
HUMAN RESOURCES
2019/20
2018/19
2017/18
Posts Approved
62
62
75
Posts Filled
57
51
72
2019/20
2018/19
2017/18
Clean Audit
Clean Audit
Clean Audit
R’000
R’000
R’000
25 024
15 818
10 260
6 484
7 128
4 693
31 508
22 946
14 953
4 580
3 443
1 920
-
-
-
4 580
3 443
1 920
26 928
19 504
13 033
70 777
64 487
59 130
19
161
92
70 758
64 326
59 038
OFFICE OF THE PENSION FUNDS ADJUDICATOR (OPFA) CONTACT DETAILS PHYSICAL: 4th Floor, Riverwalk Office Park, Block A, 41 Matroosberg Road, Ashlea Gardens, Pretoria, 0081 POSTAL: PO Box 580, Menlyn, 0063 TEL: 012 346 1738 / 012 748 4000 FAX: 086 693 7472 WEB: www.pfa.org.za EMAIL: enquiries@pfa.org.za
OVERVIEW The mandate of the Office of the Pension Funds Adjudicator (OPFA) is to ensure a procedurally fair, economical and expeditious resolution of complaints in terms of the Act by: ensuring that its services are accessible to all; investigating complaints in a procedurally fair manner; reaching a just and expeditious resolution of complaints in accordance with the law; being innovative and proactive in thought and in action; and supporting, encouraging and providing opportunities for individual growth. The Adjudicator’s office investigates and determines complaints relating to the improper application of fund rules, maladministration, disputes of fact or law, and employer dereliction of duty in respect of pension funds.
OFFICE BEARERS Governance Committee Members: Mr Sathie Gounden (Chairperson: Audit Committee), Mr Olano Makhubela (Acting FSCA Commissioner and Accounting Authority), Ms Dudu Msomi (Chairperson: Human Resources Committee), Mr Hamilton Ratshefola (Chairperson: Risk Committee), Prof Philip Sutherland (Chairperson: Remuneration Committee) Adjudicator: Ms Muvhango Antoinette Lukhaimane (Pension Funds Adjudicator) Chief Financial Officer: Mr Bulelani Makunga Senior Management: Ms Vidette Brancken (HR Manager), Ms Tshepo Dooka-Rampedi (Acting Early Resolutions Manager), Mr Naheem Essop (Senior Legal Advisor), Ms Wilana Groenewald (New Complaints Unit Manager), Mr Silas Mothupi (Senior Assistant Adjudicator), Mr Matome Thulare (Deputy Pension Funds Adjudicator)
FINANCIAL INFORMATION* AUDIT OUTCOME FINANCIAL POSITION Current Assets Non-Current Assets Total Assets Current Liabilities Non-Current Liabilities Total Liabilities Total Net Assets
FINANCIAL PERFORMANCE Total Revenue Exchange Transactions Non-Exchange Transactions Total Expenditure
(63 353)
(58 015)
(54 675)
Employee Costs
(36 398)
(34 257)
(32 346)
7 424
6 471
4 455
Surplus/(Deficit) for Year
CASH FLOW Operating Activities
15 808
2 245
2 718
Investing Activities
(1 856)
(4 125)
(1 071)
15 717
1 765
3 645
199
-
-
Cash & Equivalents – Year End
UIFW EXPENDITURE**
Refer to p9 for more information on sources, methodology and definitions. *Refer to nationalgovernment.co.za for a copy of the full Annual Report. **Total of Unauthorised, Irregular, Fruitless & Wasteful Expenditure.
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