Who can file?

Sponsors, Pensioners, Beneficiary(ies), Members, Trustees and their agents can file a complaint with the Pension Scheme, if at any time they are dissatisfied with the Pension Scheme’s policies and procedures.

What is the process to filing a complaint?

All complainants must provide details on the nature, time and date of their complaint in writing to the Pension Scheme.

How will my compliant be processed?

Upon receipt of the compliant, the Pension Scheme will conduct an investigation. As part of the investigation, you will be given an opportunity to provide additional information.

Also, a log will be maintained of all complaints received, and will comprise:               

• Name and address of complainant
• Complainant’s relationship to the Fund
• Name and address of agent representing the complainant
• A statement as to the nature of the complaint
• The date the compliant was filed
• The date the decision was communicated to the complainant
• The action taken to address the complaint

How long will I have to wait to know if for my complaint is resolved?

The Pension Scheme shall ensure that complaints registered are resolved speedily, and will provide a written response within 14 days after making a decision. Notifying you of:

• The reason for the decision
• The complainant’s right, where he/she is a member of the fund, of recourse to the Financial Services Commission if he/she is of the opinion that his/her benefits are in jeopardy.

However, in the event, a decision is not arrived at speedily, the complainant or his representative shall be notified of the reasons for the delay, the efforts at resolution and an expected date for issuing a decision.

Finally, what is the impact of the Pensions Act (Superannunation Funds and Retirement Schemes) 2004, on the Appliance Traders Group Pension Scheme?

You can rest assured that the Appliance Traders Group Pension Scheme is SAFE!!!

The Pension Act, 2004 seeks to regulate pension funds in order to a) protect the members’ interests regarding the monies being managed on their behalf, and b) ensure that investment strategies are adequate to provide for members’ retirement options in the distant future.  This means:

• Pension schemes will have to be licensed after passing strict licensing requirements
• Pension scheme managers, administrators and Trustees must also be licensed and registered after passing strict licensing and registration requirements
• Pension schemes must disclose standard information to both members and regulators regarding financial accounts, investments, membership reports, et al.
• Pension schemes, its managers, administrators and trustees will be criminally liable for non-compliance and offences against the Act and its Regulations.