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The relevant case in this regard is the case of Meyer v Iscor Pension Fund 2003 (2) SA 715 (SCA) at 725 I - 726 A where the following was stated: From the wording of Section 30 P (2 it is clear that the appeal.
THE pensions fund adjudicator 1, sT, respondent, trevor vernon freeman 2, nD, respondent, tHE registrar OF pension funds.
The High Court is therefore not limited to the decision whether the Adjudicators determination was right or wrong.In dealing with the interpretation of Clause 5 of the policy in the Mungal matter dealing with the determination of the surrender value by Old Mutual, Mr Brassey submitted that in determining questions of the investment costs or the recovery of unrecouped expenses if they.It is also not necessary to do this where the market is flat or slightly depressed for a brief period as the reserves in the bonus stabilization account are then sufficient to prevent the adverse consequences which the application of the Market Level Adjustor seeks.Mr Wallis submitted further that this is not a complaint relating to the administration of a Fund, it has nothing to do with administration, it has to do solely and only with the amount payable by the insurer under the policy of insurance.An order in terms of paragraphs (a (b and (c) of the Notice of Motion is granted; No order as to costs is made.Much has been said on the papers about the nature of the Market Level Adjustor, this concept is also referred to as the Market Value Adjustor and it is necessary to first determine the nature of this concept as understood by the parties to this.The Market Level Adjustor was thereafter decreased, resulting in an increase in the early retirement casino slots real money south africa value of a policy.Mr Wallis SC with whom Mr Oosthuizen SC appeared on behalf of the Applicant submitted that the Adjudicator online gambling for real money 2012 is a statutory functionary, whose jurisdiction is confined to the investigation of complaints in terms of Section 30A(3 (30B (30E 30H) of the Pension Funds Act.Where a policy holder wishes to exit at a date earlier than the maturity date and also at the time when the market is down, the adverse consequences to other policy holders as demonstrated earlier on are avoided by applying the Market Level Adjustor.The aforesaid contract of insurance was concluded between Old Mutual and saraf.Section 30 P for the Act provides as follows: 30 P (1) Any party who feels aggrieved by a determination of the Adjudicator may, within 6 weeks after the date of determination, apply to the division of the High Court which has jurisdiction, for relief.
Mr Wallis further argues that the Respondents argument in this regard gives the accumulation account at status that it does not enjoy.