QUESTION 1

All Good (Pty) Ltd started participating in the Excellent Umbrella Pension Fund on 1 May 2020. The eligibility criteria as stated in the Special Rules for All Good (Pty) Ltd is all employees of All Good (Pty) Ltd between the ages of 18 and 65. Which of the following statements is correct?

	a.	John (56), who started working for All Good (Pty) Ltd on 1 August 2021, must become a member of the Excellent Umbrella Pension Fund.
	b.	Shane, Johns self-employed twin brother, can become a member of the Excellent Umbrella Pension Fund if the trustees of the Excellent Umbrella Pension Fund so decide.
	c.	Maggie (63), All Good (Pty) Ltds HR manager, lost her husband during the COVID pandemic and is now in a dire financial position. She cannot afford to contribute to the Excellent Umbrella Pension Fund any longer. She is entitled to withdraw from the Excellent Umbrella Pension Fund as a result of unaffordability.
	d.	Melvin (48), who started working for All Good (Pty) Ltd on 1 January 2020, did not join the Excellent Umbrella Pension Fund. He is now suffering from ill-health and wants to join the Excellent Umbrella Pension Fund. He may not do so because it is already more than 12 months after 1 May 2020.
	e.	None of the above.

QUESTION 2

A trustee of a retirement fund should familiarise himself with all the relevant legislation and regulatory instruments. Which of the following documents are relevant for a trustee? i. Conduct Standards issues by the FSCA. ii. King VI Report on Corporate Governance. iii. Principal Officer Training Toolkit. iv. Income Tax Act Interpretation Rulings. v. FSCA Information Circulars. Choose the correct option.

	a.	ii, iii and iv.
	b.	i and v.
	c.	i, ii and v.
	d.	ii, iii, iv and v.
	e.	None of the above.

QUESTION 3

Franz, a member of the B-Right Pension Fund, resigned from his employer in April 2023. What options does Franz have?

	a.	He can take up to one-third of his benefit as a lump sum and must then buy an annuity with the balance.
	b.	He can use his total benefit to buy an annuity.
	c.	He can take a portion of his benefit as a lump sum and transfer the balance to a pension preservation fund.
	d.	All of the above.
	e.	None of the above.