Regulatory Alerts2022-06-22
FSCA Communication 18 of 2022 (RF) Request for Information on Retirement Fund Paid-Up Members
The Financial Sector Conduct Authority has issued a mandatory information request requiring retirement funds and administrators to electronically submit data on paid-up members via its official website. This submission establishes a centralized register and baseline to monitor Regulation 38 compliance, complements existing unclaimed benefits data, and enables public searches for paid-up benefits. Funds must utilize the prescribed spreadsheet templates to update their records, with non-compliance potentially triggering administrative action under the Pension Funds Act and Financial Sector Regulation Act.
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