Regulatory Alerts2018-03-31
Information Circular 5 of 2008: Request for Statistical Information on Participating Employers in Umbrella Funds
The Financial Services Board requires administrators of umbrella pension funds to verify and update statistical records for all participating employers as of 30 April 2008. This data collection enables the accurate assessment and invoicing of statutory levies on each employer under the Financial Services Board Act. Administrators must electronically submit the corrected employer details, including active statuses and cancellation reasons, to the Registrar by 18 June 2008.
FINANCIAL SERVICES BOARD Rigel Park 446 Rigel Avenue South Erasmusrand Pretoria South Africa P O Box 35655 Menlo Park Pretoria South Africa 0102 Tel + 27 (0)12 428-8000 Fax +27 (0)12 347-0221 E-mail info@fsb.co.za Toll free 0800110443 Internet http://www.fsb.co.za Board Members: Dr CDR Rustomjee (Chairperson) Mr AM Sithole (Deputy Chairperson) Mr BM Hawksworth Ms JV Mogadime Ms LM Mojela Ms AMM Mokgabudi Prof PJ Sutherland Ms HS Wilton Board Secretary: SB Makgalemele Executive Officer: RJG Barrow ENQUIRIES: L de Swardt D. DIALLING NO.: 012 428 8020 OUR REF: 12/12/1 FAX: 012 347 0874 DATE: 19 May 2008 E-MAIL: lorained@fsb.co.za (To all approved administrators, privately administered funds and insurers who underwrite pension funds) INFORMATION CIRCULAR 5 OF 2008 REQUEST FOR STATISITICAL INFORMATION ON PARTICIPATING EMPLOYERS PARTICIPATING IN UMBRELLA FUNDS The Financial Services Board (FSB) under section 15A of the Financial Services Board Act, 1990, imposes levies set out in the schedule on financial institutions as published annually in the Government Gazette. A pension fund registered as an umbrella fund is required to pay a levy in respect of each registered participating employer participating in the fund. In order to assist the Registrar of Pension Funds to invoice accurate levies on participating employers, the following information regarding participating employers in umbrella funds as at 30 April 2008 will be forwarded to the relevant administrators: Name and number of administrator Name and registration number of the Umbrella Fund Umbrella fund type Fund type Registered number of participating employer Note 1 Name of participating employer Date of participation/ effective date Sub status: Process of liquidation, or not Date of approval of liquidator Date of cancellation Cancellation Reason
-- Note 1: The registration number allocated to a participating employer as recorded on the FSB database should be used for a particular participant.
Administrators are requested to verify the information and update the relevant information on the spreadsheet with, amongst others, the following information: 1 Add any active participating employers and the date of participation which are not on the list; and 2 If the participating employer ceased to exist, indicate the cancellation date and reason for cancellation (Full transfer (section 14), liquidated (section 28(15) or last member withdraw from the employer (section 27(1)) in the columns provided. You are hereby requested to submit this information electronically to Loraine de Swardt on lorained@fsb.co.za in the prescribed format no later than 18 June 2008. A process is currently being developed whereby umbrella funds (type B) will be able to update the details of participating employers on an ongoing basis. Yours faithfully L DE SWARDT For: Registrar of Pension Funds 2