Regulatory Alerts2018-04-01
Power Pack Pension Fund Actuarial Valuation Report as at 30 June 2003
The Fund's appointed valuator issued this statutory report to certify the Power Pack Pension Fund's financial soundness and establish the R42.159 million surplus available for distribution as at 30 June 2003. The assessment confirms a 145% funding level driven by purchased annuity policies and post-valuation asset recoveries, while noting that no future contributions are required due to the complete absence of active members. The document mandates the Liquidator to implement a Surplus Apportionment Scheme to distribute these funds to former members and stakeholders, incorporating mandatory provisions for liquidation costs, contingency reserves, and pending legal recoveries of misappropriated assets.
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