Regulatory Alerts2018-03-31
PF Circular 86: Disclosure Requirements for Privately Administered Pension Funds
The Registrar of Pension Funds mandates minimum disclosure requirements for all registered privately administered pension funds and underwriting insurers to improve member communication. Funds must provide new members with an explanatory pamphlet and annual benefit statements detailing fund information, benefit calculations, contribution rates, and dispute resolution procedures. The circular also requires timely notifications regarding fund restructuring, benefit withdrawals, retirement, death, or disability, ensuring members understand their options, associated risks, and potential financial implications.
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