2018-04-01

Statutory Actuarial Valuation Report: PICBEL Groepvoorsorgfonds

Actuary A Lester issued this statutory valuation report to assess the solvency and funding requirements of the PICBEL Groepvoorsorgfonds as of 1 July 2004. The findings confirm a 222% funding level with a R34.1 million surplus, authorizing surplus apportionment under the Pension Funds Second Amendment Act while confirming the paid-up fund requires no further employer contributions. The document also quantifies historical recoveries of improperly allocated surplus, details actuarial assumptions for pensioner liabilities and inflation guarantees, and establishes contingency reserves to maintain financial stability until the next triennial review.

South Africa

Financial Sector Conduct Authority

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