Regulatory Alerts2018-03-31
PF Circular 130 Annexure C: Good Governance Guidelines for Board Performance Appraisals
The South African Financial Services Board issued Annexure C to Circular PF 130 to establish a standardized, constructive framework for evaluating board performance within retirement funds. The guidelines mandate structured self-assessments and stakeholder feedback across eleven critical governance domains, including fiduciary duties, board composition, training, meeting effectiveness, ethics, and succession planning. Boards must utilize the resulting performance data to identify skill gaps, implement targeted remedial plans, and track continuous improvement, with persistent deficiencies triggering formal investigations into member suitability.
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