In any case where a person who is a member or pensioner of a previous fund, the Temporary Employees Pension Fund, the Associated Institutions Pension Fund or an approved retirement fund, becomes a member of the Fund in terms of section 4(3) or (4), or 15 or the rules, as the case may be, such person shall forfeit all rights and privileges in respect of, and shall be released from all obligations towards, the fund in question, except an obligation to pay to the fund in question an amount which was due immediately before the date determined by the Minister or relevant authority in terms of section 14(1) or 15(1) or the rules, as the case may be, in respect of the previous fund, the employees concerned of the Temporary Employees Pension Fund, the Associated Institutions Pension Fund or that approved retirement fund, as the case may be.

[Annexure 1 Section 16 substituted by section 15 of the Financial Matters Amendment Act, 2023 (Act No. 9 of 2023), Notice No. 3651 of GG48917, dated 7 July 2023 - effective 14 July 2023 per Commencement Notice No. 3683 of GG48962, dated 14 July 2023]