The Institute of Retirement Funds Africa (IRFA) is a non political body which represents and promotes the interests of the retirement industry in Africa, to the ultimate benefit of the members of retirement funds. The most important function of the IRFA is to represent the retirement industry in negotiations with government authorities and the Financial Sector Conduct Authority (FSCA), which would include commenting on legislation and tax matters affecting retirement funds/pensioners etc. The IRFA therefore depends on total support from all parties concerned with the retirement benefit provision industry.
The IRFA is a non-profit organisation, which came into existence in March 1987 to succeed its predecessor, the Association of Pension and Provident Funds (APPF), which had existed since 1949. The APPF was an organisation of pension funds whereas the IRFA has a much wider membership base which includes all the disciplines associated with retirement benefits, including those administrators, actuaries, consultants, brokers and insurers insofar as their administration of retirement funds are concerned.
The IRFA has been actively involved in setting out the key principles of retirement provision for all South Africans:
- All segments of South Africa’s population need to be addressed by any retirement provision objective and policy.
- Private sector participation in the process is vital
- Continuation of tax incentives to encourage saving for retirement
- A solid funding and financing system to ensure stability and certainty for the future
- Transparency and member involvement
- Preservation of funds until retirement to be encouraged
- Provision to make retirement income inflation linked.
The IRFA’s activities include five standing committees i.e. executive committee, legal and technical committee, conference/seminars committee, education committee and the communications committee. These committees meet on a regular basis to find new and innovative ways of overcoming problems in our industry, to promote communication and to provide ongoing education and training and advice on legal and technical matters.
Annual conference: To the benefit of its members and other interested parties, the IRFA holds an annual conference where speakers, who are leaders in their respective fields, address the delegates on current issues in the retirement industry.
The Best Practices Industry Award: This encourages excellence in communication between funds and their members, is also awarded at the conference. This annual award has since become a sought after trophy in the industry. The competition is open to all funds irrespective of their size to the benefit of its members and other interested parties, the IRFA holds an annual conference where speakers who are leaders in their fields address the delegates on current issues in the retirement industry. The competition is open to all funds irrespective of their size To the benefit of its members and other interested parties.
Who qualifies for Membership?
Any organisation or person who is actively involved in the retirement industry may apply for membership. To date, the Institute has 400 members including reciprocal membership of similar organisations in England, Australia, New Zealand, Zimbabwe, Namibia and Swaziland.
|IRFA Membership Forms 2015|