Question
Good Foods (Pty) Ltd currently participates in the Good Foods Pension Fund and is considering transferring to the Catering Industry Umbrella Pension Fund. Which of
- Good Foods (Pty) Ltd currently participates in the Good Foods Pension Fund and is considering transferring to the Catering Industry Umbrella Pension Fund. Which of the following statements is correct?
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| a. | The principal officer of the Good Foods Pension Fund must ensure that the interests of the members are protected during the transfer. |
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| b. | If both the Good Foods Pension Fund and the Catering Industry Umbrella Pension Fund are audit exempt, the transfer can be done under the provisions of section 14(8). In this case, both funds must keep copies of the signed Forms H & J on record. |
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| c. | The Good Foods Pension Fund must transfer all assets and liabilities to the Catering Industry Umbrella Pension Fund within 60 days after receiving the resolution for the approval of the transfer from the board of the Catering Industry Umbrella Pension Fund. |
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| d. | If a withdrawal benefit becomes payable before the transfer is approved, both funds can pay the withdrawal benefit based on the members membership of the respective funds. |
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| e. | None of the above. |
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