Regulatory Alerts2021-11-10
Added · Updated
Compulsory Beneficiary Nomination Forms
The Namibia Financial Institutions Supervisory Authority issued Standard RF.S.5.9 to require all registered retirement funds to distribute annual beneficiary nomination forms to their members. Members must complete and return these forms by January 30 each year, specifying legal dependents, factual dependents, or other nominees to receive lump sum death benefits. The fund board must ensure the forms capture appropriate categories and percentage shares, while members may submit updated forms at any time to automatically invalidate previous nominations.
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