Regulatory Alerts2018-03-31
PF Circular 75: Amendment of Regulation 28 under the Pension Funds Act, 1956
The Financial Services Board issued PF Circular 75 to notify pension funds and insurers of amendments to Regulation 28 of the Pension Funds Act, 1956, effective 30 September 1991. The revisions increase the combined investment limit for immovable property and shares to 90 percent, raise the overall asset limit to 95 percent, adjust specific caps for single-company shares and Krugerrands, and reclassify convertible debentures as shares. Additionally, previously exempt underwritten funds must now comply with these distribution requirements and secure insurer certificates for any deviations, while the registrar is authorized to grant conditional exemptions and updated reporting forms are attached.
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