Regulatory Alerts2018-04-01
Statutory Actuarial Valuation Report - Datakor Group Retirement Fund 19919
Actuaries from Sellems Actuaries & Statisticians issued this statutory valuation report to determine the apportionable surplus for the Datakor Group Retirement Fund following its 2005 curatorship placement due to historical asset misappropriation. The assessment as at 1 March 2004 confirms a 4,899.2% funding ratio and identifies a net surplus of R8.479 million, primarily generated from discounted recoveries by the Fund Curator. The report verifies no improper surplus usage, establishes a nil statutory minimum pension increase for the valuation date, and details how recovered assets were allocated to secure pensioner annuities and cover administrative expenses.
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