Department of Public Service and Administration (DPSA

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) AUDIT OUTCOME Clean Audit Financially Unqualified Clean Audit

FINANCIAL POSITION R’000 R’000 R’000

Current Assets 41 009 16 701 5 535

Non-Current Assets 2 772 2 362 1 713 Total Assets 43 781 19 063 7 247

Current Liabilities 1 870 1 469 3 459

Non-Current Liabilities - - Total Liabilities 1 870 1 469 4 359 Total Net Assets 41 911 17 594 3 788

FINANCIAL PERFORMANCE

Total Revenue 64 385 54 870 49 421

Exchange Transactions 1 23 n/a

Non-Exchange Transactions 64 384 54 847 n/a Total Expenditure (39 768) (41 063) (47 350)

Employee Costs (26 474) (24 559) (30 045) Surplus/(Deficit) for Year 24 617 13 806 2 071

CASH FLOW

Operating Activities 3 729 (464) 2 469 Investing Activities (1 467) (1 517) (738) Cash & Equivalents – Year End 3 429 1 636 3 617 UIFW EXPENDITURE** 3 783 5 263 3 483

HUMAN RESOURCES 2019/20 2018/19 2017/18 Posts Approved 62 62 75 Posts Filled 57 51 72

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* 2019/20 2018/19 2017/18

AUDIT OUTCOME

Clean Audit Clean Audit Clean Audit

FINANCIAL POSITION R’000 R’000 R’000

Current Assets 25 024 15 818 10 260

Non-Current Assets 6 484 7 128 4 693 Total Assets 31 508 22 946 14 953

Current Liabilities 4 580 3 443 1 920

Non-Current Liabilities - - Total Liabilities 4 580 3 443 1 920 Total Net Assets 26 928 19 504 13 033

FINANCIAL PERFORMANCE

Total Revenue 70 777 64 487 59 130

Exchange Transactions 19 161 92

Non-Exchange Transactions 70 758 64 326 59 038 Total Expenditure (63 353) (58 015) (54 675)

Employee Costs (36 398) (34 257) (32 346) Surplus/(Deficit) for Year 7 424 6 471 4 455

CASH FLOW

Operating Activities 15 808 2 245 2 718 Investing Activities (1 856) (4 125) (1 071) Cash & Equivalents – Year End 15 717 1 765 3 645 UIFW EXPENDITURE** 199 - -