Regulatory Alerts2023-04-05
Added · Updated
Chapter 5 Retirement Funds Standards
The Namibia Financial Institutions Supervisory Authority has issued comprehensive standards governing the valuation, reporting, and operational rules of registered retirement funds under the Financial Institutions and Markets Act, 2021. These regulations mandate defined benefit funds to calculate actuarial surpluses using accrued assets and liabilities, while requiring all eligible funds to obtain periodic valuator reports that assess technical provisions, funding ratios, and asset-liability matching. Employers must furnish detailed member and contribution data to funds, which must also maintain compliant internal rules covering eligibility, benefit calculations, board appointments, and amendment procedures.
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