Overview
- Acting Judge Johannes Reolofse issued an interim interdict in the Mbombela High Court preventing Alexander Forbes from disinvesting, transferring or paying out the living annuity pending Part B of the case.
- The urgent application was brought by Mabuza’s daughter, Tamara Silinda, and his former partner, Emunah Silinda, to stop a payout to nominated beneficiary Nonhlanhla Patience Mnisi.
- Reolofse questioned Alexander Forbes’ explanation of how the money shifted from protected pension funds to an unprotected investment and ordered the company to pay costs.
- Alexander Forbes argues a living annuity is governed by insurance law rather than Section 37C of the Pension Funds Act and says it is obliged to pay recorded nominees.
- The firm says it respects the ruling but is reviewing legal options to challenge the interim order, while the main hearing will decide the annuity’s legal character and Mnisi’s spousal claim.