Regulatory Alerts2018-04-01
Second General Information Circular by the Registrar of Pension Funds
The South African Financial Services Board’s Registrar of Pension Funds issued this circular to update stakeholders on the approval and implementation of surplus apportionment schemes for nine pension funds, eight of which are currently in liquidation or curatorship. The approved schemes authorize a total distributable surplus of R 571.041 million as of February 2012, with distributions executed in two tranches and reserve accounts retained to cover future litigation and administrative expenses. Stakeholders are advised that Old Mutual is administering the payments, while those with queries regarding the pending Power Pack Pension Fund surplus should contact the Cullinan Funds board directly.
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