Regulatory Alerts2018-03-31
PF Circular 79: Registration of Pension Fund Trust Deeds
The South African Financial Services Board mandates that all trust deeds governing registered pension funds, whether incorporated into or separate from the fund rules, must be formally registered with the Registrar of Pension Funds. Applicants for new fund registration must submit duplicate copies of any separate trust deed alongside their application or provide documented reasons for its absence. Existing pension funds holding unregistered separate trust deeds are required to submit two certified copies for free registration, with one endorsed copy returned to the fund.
FINANCIAL SERVICES BOARD 446 Rigel Avenue South Erasmusrand 0181 Private Bag X238 Preloria 0001 Tel (012) 347.0660 lnt + 27-12-347-0660 Fax (012) 347.0221 Enquiries: Our ref: 12/12/1 Dale. April 1993 CIRCULAR PF NO. 79
(To all self-administered pension funds and insurers who underwrite pension funds) - This office currently experiences problems with the legal
position regarding trust deeds for registered pension funds.
It should be noted that where a trust deed is entered into and
it exists separately from the rules of the pension fund, legally
it still forms part of the rules of the fund and as such it must
be registered by this office.
It is therefore requested that in respect of an application for
the registration of a fund, where a trust deed is not
incorporated into the rules of the fund, the trust deed should
be submitted in duplicate to be registered. If a trust deed is
not submitted together with an application for registration,
reasons for its absence should be furnished.
Any existing pension fund which has a trust deed separate from
its rules and which has not been submitted to this office, must
submit the said deed for registration. Two certified copies
should be submitted, one of which will be returned to the
fund/insurer, duly endorsed and registered. The registration of
a trust deed for any existing fund will be done at no cost to the
pension fund.
Yours faithfully
V REGISTRAR OF PENSION FUNDS (Sien keersy vir Afrikaans)
Uemers rhe ~omun~tc ~r ~usticeo A uo,amet (cbimun or AS ~.cobr(oe uty aul-n) P J eaaenmnt (~recutlreoniser) R A Nanon I B Siorana 0 J Matso or C J asward, Pmf W L Houlan bJ J nn der Walt LA F H nn Wouw J U Coomlly R C Anderaen