Regulatory Alerts2021-11-10
Added · Updated
Definition of Actuarial Surplus
The Namibia Financial Institutions Supervisory Authority issued Standard RF.S.5.1 to define actuarial surplus for defined benefit funds under the Financial Institutions and Markets Act, 2021. The standard mandates precise calculation methodologies for accrued and unaccrued assets and liabilities, establishing clear formulas to determine whether a fund holds an accrued or unaccrued surplus or deficit. It further specifies the exact mathematical conditions for deriving net actuarial surplus or deficit by combining these components based on their positive or negative valuation results.
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