PF Circular 72: Valuator Reporting Requirements for Underwritten Pension Fund Assets

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OFFICE
Private Bag X23a
C12C::L.2.3 2.7. EQ. 72

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(T; i2s:~rer~ :Z>O UP.,ETY~~~P psnsion funds wnlcn ?re su-.-=-: -> _- rs -. . . CLiL=LLCEV~S;:SZ~~OCS)

PEZSION ETu39S .l.CT, 1156 : EPSET BY I?E V?LLUATOR It? RFSPECT 02 THZ ILNVESTXENT OF THZ ASSZTS OF UI?DERWRITTEN PENSION E'UNDS -- - .. . 1. U~CISTX~~L~EI pension funds zre in terms c5 section - ~(3)(a)(ii) 05 the Pension Funds Act, 1956, ccn6iticnzlS

exezgted fro.7. the 2pulication o: certain ~rovisions cf t.i.5 Act. Whers however underwritten funds zre subject to zctcarial iz-~esti~stions, such :unds musc com2ly with t?:s ~rovisiors of section 16 of the Act and he vzlued st 15252 cncs every three yezrs. In futnre this Offlcs reqcirss . -. . .- . . calc?tor of z fund, that is not esempte8 from the ?rorls:crs

of section 15 of the Act, when submitting hLs triecnl~l

Y^, ,--' ~-LZ~-LGP. report 21so to report on the structure of t';-.*.. - Eund's assrts 2nd their zppro?riateness 2s regzrds r.~ic:-.ic:
Li￾i.lc 1iaSil:ties of ths fucd.

... 2. -.~neI-or, cf t5e v;lua;or sh~llhe subritte5 to~et:?sr ;r:z:
Llrc -LA- ..-vcl~iti~~ report of the vzlcator rey2i;e5 in ttr7.s cf SC ;r . . -CL: --(I) of Act 2nd within tho ??rizd gres=~l>sl ir sl~k.sscki;n (2).
3. -.ina :irst z-?,orts shall be ~2d2 in res7szt c): :'lads ~:-.ic:-.
ssc+-ioh~lSi-,?j of ths ~ct-am 1 November 1:?0.
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• • . . his Office has in conjunction with the Actnzrial Society of
    Ssu;h Africa and the South African Association of Ccnsxlting >.ctuariss, coz.piled the report required of vaiuators 2nd . - shall be ghrased as :3llows:~. Your referencz : 12/8/ ..... /2
    Our reference : ..........
    PENSION FUNDS ACT, 1056 : REPORT BY THE VALUATOR IN RESPECT OF THE ASSETS OF AN LEDEXWRITTEN PENSION EVNJ :/ice certify that I/xs am/are satisfied with tne assscs siructure of the ABC Pension Fund 2nd that the matchlnq of rhs assets with the liabilities of the Fund is, in my/our =?inion, sdequate. -- . 5. ~r <he vzluzkor is cr-cble to sign the report in the abcvemer-tioned form xithout qualification, he must issve z rt2ort cozling with ;he matters referred to, in3icatlrq - () that he is not satisfied; (t) why hs is not sztisfied;