Regulatory Alerts2018-03-31
PF Circular 132: Withdrawal of Pension Fund Circulars
The South African Financial Services Board issued PF Circular 132 to immediately withdraw twelve pension fund directives addressing surplus allocation, regulatory exemptions, and fund transfers. The superseded circulars, covering PF numbers 111 to 128, previously provided administrative guidance on voluntary dissolution, improper surplus utilization, Regulation 36 applications, and employer surplus deployment. Approved administrators, privately administered funds, and pension insurers must discontinue reliance on these outdated provisions and comply with current statutory requirements.
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