FSCA Publishes List of Employers in Arrear with Pension Contributions

Posted 15 October 2025 Written by Acts Online
Category Pension Funds

Brought to you by SA Accounting Academy: The Financial Sector Conduct Authority (FSCA) has published the names of pension funds and employers with arrear contributions as at 31 March 2025, citing contraventions of the Pension Funds Act, No. 24 of 1956.

In terms of section 13A(3)(a) of the Pension Funds Act, No. 24 of 1956 (PFA), the FSCA issued FSCA Communication 18 of 2025 (RF) to identify delinquent employers. While the Authority received reports of 15,521 employers in contravention of section 13A, it has specifically published the names of 5,821 employers deemed to have the most severe arrears. The criteria for publication include being in arrears for more than five months or owing an amount exceeding R50,000.

This publication represents a 50% increase in the number of non-compliant employers since the previous list issued on 31 December 2023. This growth is largely attributed to the inclusion of data from two major industry funds: the Auto Workers Provident Fund and the Motor Industry Provident Fund. These two entities account for 3,353 (57.5%) of the published delinquent employers.

Financial Impact and Regulatory Obligations

The total estimated arrears across the sector have reached R7.23 billion. Of this amount, approximately R2.98 billion is comprised of late payment interest. The FSCA noted that even where employers settle the principal outstanding contributions, they frequently fail to address the statutory late payment interest levied against them.

The Authority has clarified that pension funds are under a strict regulatory obligation to:

  • Maintain accurate records of all reports relating to arrear contributions as required by the PFA;
  • Ensure that reports submitted to the FSCA regarding these arrears are accurate and timely; and
  • Monitor the payment of contributions and other benefits to ensure compliance with section 13A.

The FSCA intends to publish updated lists of non-compliant employers on a regular basis to enforce accountability and protect fund members’ interests.

Click here to download the FSCA Communication 18 of 2025 (RF) and Annexures.

What this means for you, your business, or your clients

  • For yourself: If you serve as a director or officer of a company, be aware of the personal liability provisions in section 13A(8) of the PFA, which can hold individuals personally liable for unpaid contributions.
  • For your business: You must ensure that all retirement fund contributions are remitted to the fund no later than seven days after the end of the month for which the contributions are payable to avoid being “named and shamed” and incurring significant late payment interest.
  • For your clients: Auditors and independent reviewers must cross-reference client contribution records against the FSCA list to identify potential reportable irregularities and ensure that contingent liabilities for late payment interest are correctly reflected in financial statements.

Originally published at https://accountingacademy.co.za/news/read/fsca-publication-of-names-of-pension-funds-and-employers-with-arrear-contributions-1

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