2021-11-10

RF.R.5.10 – Preservation of Retirement Benefits

The financial regulator issued RF.R.5.10 to mandate the preservation of retirement benefits when members leave their funds before reaching retirement age. This standard requires retirement funds to retain withdrawn savings as preserved benefits rather than paying them out immediately, ensuring continued tax-advantaged growth. Compliance obligations include updated record-keeping procedures, clear member communication regarding benefit status, and strict adherence to prescribed transfer timelines.

Namibia

Namibia Financial Institutions Supervisory Authority

Show thumbnailShow full textSourceAdd to collection

Show full text

[featured_image]

Download

Version

Download 18

File Size 208.91 KB

File Count 1

Create Date November 10, 2021

Last Updated November 1, 2024

Related