Regulatory Alerts2020-03-05
FSCA Communication 7 of 2020 (RF): Submission of Historically Outstanding Actuarial Valuation Reports and Annual Financial Statements
The Financial Sector Conduct Authority has issued this communication to establish a consolidated submission process for pension funds with no remaining members that hold historically outstanding actuarial valuation reports and annual financial statements. Eligible funds may combine statutory reports for multiple periods into a single filing, provided they meet criteria such as having no active members, pending deregistration or liquidation, and net assets below R250,000. Funds must commit to an action plan by 30 June 2020 and submit all consolidated reports before 30 April 2021, with the Authority granting a three-year exemption and potential penalty waivers to facilitate deregistration.
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