By Dorothy Avvakoumides*
If you’re saving for retirement, you may start hearing more about a new piece of legislation called the Cofi bill. While it sounds like something from a coffee shop menu, it’s actually a major change in the way financial institutions – like retirement funds and investment providers – are regulated.
Cofi stands for the Conduct of Financial Institutions bill. Its main goal is simple: to make sure financial services companies treat you fairly and manage your money responsibly.
Here’s what you need to know, and how it could benefit your retirement savings.
Stronger protection for retirement fund members
Under the new rules, retirement funds will need to communicate with members in plain, understandable language. This means fewer confusing statements, and more clarity about your benefits, claims, and how to get help if something goes wrong.
It also ensures that service providers can’t hide behind red tape. If you need to make a claim or lodge a complaint, the process should be easier and more transparent.
Higher standards for those managing your money
Cofi introduces stricter requirements for the people who manage your retirement fund. Trustees, administrators, and advisers will all need to meet specific standards of professionalism, ethics, and competence.
This is good news for you. It means the people responsible for your money will be more accountable, and held to higher standards.
A greater focus on fairness – before and after retirement
Cofi doesn’t just look at how financial products are sold. It also focuses on what happens after you join a fund or take out an investment.
Are your benefits easy to access when you need them? Is your retirement outcome being monitored? Are your complaints resolved fairly? These are the kinds of questions financial providers must now answer – and act on.
A push for inclusion and transformation
One of the bill’s key aims is to make the financial sector more inclusive. Retirement funds will be required to adopt transformation plans that align with the Financial Sector Code.
This is part of building a more balanced and representative industry – something that benefits everyone in the long run.
How this affects your relationship with your adviser
If you’re working with a financial adviser (like someone from Brenthurst Wealth), this legislation reinforces the importance of ongoing, ethical, and client-focused advice.
Advisers and fund managers will need to align with the new conduct rules, which means you should expect greater transparency, better communication, and a stronger focus on your long-term financial wellbeing.
What happens next?
Cofi is expected to be fully implemented over the next few years. During this time, financial firms will be reviewing their policies, training staff, updating communication strategies, and putting new systems in place to comply with the legislation.
As a client, you don’t need to do anything right now – but it’s worth knowing what’s changing behind the scenes, and how those changes are designed to protect and empower you.
The bottom line
Cofi is more than just another regulation. It’s a shift towards a fairer, more transparent financial system – one that puts your interests at the centre.
By raising standards, improving communication, and holding service providers accountable, the bill aims to create a retirement savings environment you can trust. And that’s good news for your future.
*Dorothy Avvakoumides is a consultant with Brenthurst Wealth employee benefits, in Fourways.
Megan joined the Brenthurst Wealth team in March 2026 as an Administrative and Fiduciary Services Assistant at our Val de Vie Office in the Western Cape. Prior to joining Brenthurst, Megan gained three years of experience in the retail sector, where she developed management and client service skills.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Esmarelda Isaacs-Andreas joined the Brenthurst Wealth Stellenbosch office in October 2025, taking on the dual role of Receptionist and Fiduciary Administrator.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Ashley joined Brenthurst Wealth in January 2025 as Office Administrative Assistant and Receptionist for the Stellenbosch Office.
René Heystek joined Brenthurst Wealth in November 2023, as receptionist and administrative assistant in the newly established George/Garden Route office.
Michelle Heystek has built a career in the financial services over the last two decades, after obtaining her B.Com degree in Financial Management in 2005. Once she joined Brenthurst in 2006, she continued her academic journey, obtaining her Certificate in Wealth Management from INSETA in 2007, followed by a Postgraduate Diploma in Financial Planning from the University of the Free State. In 2008, she earned the Certified Financial Planner (CFP®) designation.
Anelle joined Brenthurst Wealth as a Receptionist and Administrative Assistant to Brian Butchart in the Cape Town office in December 2023. She has a wealth of knowledge from working as a liaison between Financial Advisers and clients at TMA and Absa Investment Management Services (Aims) since 1998. She obtained her B. com degree from the University of Port Elizabeth in 1997.
ADMITTED ATTORNEY | FINANCIAL PLANNER & HEAD OF BRENTHURST FOURWAYS
Sanet was appointed in April 2020, joining our Cape Town team as an Executive Administration Assistant to Renee Eagar. She has been in the financial services industry since 1990. Her previous experience includes positions at Sanlam, BJM and ABSA. She spent her last 12 years working at Alexander Forbes Private Client Wealth as a Senior Wealth Management Assistant. She has received numerous accolades over the years which include but not limited to, Alexander Forbes Client Service Excellence – Silver award in 2014,2015 and 2017. Sanet has also obtained her Certificate in Wealth Management (NQF 5) in 2012 and achieved “Best Student of the Year” from Moonstone.
Maria Smit is a Certified Financial Planner® with over 10 years of experience in the financial planning industry.
