Regulatory Alerts2018-04-01
Valuation - Prestolite Pension Fund 27521
The Fund’s appointed actuary issued this statutory valuation report to establish the financial position and calculate the distributable surplus of the Prestolite Pension Fund as at 30 June 2002. The analysis determines a 116% funding level with a R5.44 million surplus, integrating discounted post-valuation cash flows, Lucas Fund rectification payments, and demutualisation recoveries through September 2010. This report mandates the development of a Surplus Apportionment Scheme under the 2001 Surplus Act, formally defining the surplus amount available for distribution to former members and pensioners following the Fund’s 2006 liquidation.
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