Regulatory Alerts2024-06-25
FSCA Communication 21 of 2024 (RF): Section 14 Transfer Forms and Two-Pot System Clarification
The Financial Sector Conduct Authority has published draft forms and a determination for Section 14 pension fund transfers, inviting public comments by 31 July 2024. These revisions align the application forms with the Two-Pot system implementation by differentiating transfer values into vested, savings, and retirement components. The communication provides clear rules for calculating seed capital and processing savings withdrawals during the transition period to ensure consistent treatment across funds and administrators.
Share