Regulatory Alerts2018-03-31
PF Circular 130: Good Governance of Retirement Funds
The Financial Services Board issued PF Circular 130 to establish comprehensive good governance principles for the boards of management of retirement funds in South Africa. The circular mandates that trustees act with utmost good faith and integrity, requiring the implementation of specific governance structures including codes of conduct, investment policy statements, and performance assessment tools. It further outlines strict requirements for board composition, conflict of interest management, ongoing education, and accountability mechanisms to protect the interests of members and beneficiaries.
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