Regulatory Alerts2025-01-31
PFR6 – Actuarial Triennial Report 2024
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) mandates all licensed, non-exempt Retirement Funds in Botswana to submit a comprehensive triennial actuarial report detailing their financial position and compliance with the Retirement Funds Act, 2022. The prescribed report must contain standardized disclosures covering valuation methodology, membership data, asset and liability valuations, surplus or deficit analysis, contribution rate recommendations, and investment suitability to enable accurate financial assessment by trustees and regulators. Non-compliance with these detailed reporting and certification requirements triggers civil penalties under Section 107 of the NBFIRA Act, 2023.
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