Regulatory Alerts2021-11-10
Added · Updated
Conditions for Actuarial Exemption of Defined Contribution Funds
The Namibia Financial Institutions Supervisory Authority issued Standard RF.S.5.10 to establish the eligibility criteria and procedural requirements for defined contribution funds seeking exemption from mandatory regular valuations. To qualify, funds must maintain sufficient assets relative to member accounts and reserves for at least three consecutive years while fully securing retirement benefits through registered insurers, supported by board resolutions and valuator certifications. Once granted, exemptions remain active until revoked for non-compliance or rule amendments, triggering a mandatory 90-day window to appoint a valuator and submit a compliance report.
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