As remarked so eloquently by Marais JA in the Tek-matter supra“… In assessing the financial health of a pension fund an actuary is gazing into the proverbial crystal ball to see what the future will hold.  The use of the metaphor is not intended to demean the exercise; it is highly sophisticated and requires considerable training and skill, yet it remains, when all is said and done, an exercise in prophecy … [16]

With this in mind it is clear that the surplus legislation could not have the intention, pursuant to the first clean slate being achieved, to prevent Funds from generating future surplus, but to utilize it as prescribed in Sections 15C, 15D and 15H.

 Poterrill J in British American Tobacco Pension Fund v Howie NO (9480/2014) [2015] ZAGPPHC 341 (27 May 2015) at para [7].