Regulatory Alerts2021-11-10
Added · Updated
Matters to be Communicated to Members and Employers (RF.S.5.19)
The Namibia Financial Institutions Supervisory Authority issued Standard No. RF.S.5.19 under the Financial Institutions and Markets Act, 2021 to establish mandatory communication requirements for retirement funds. The standard requires funds to deliver clear, complete, and accurate annual reports and benefit statements detailing fund objectives, contribution rates, administration costs, investment performance, solvency ratios, and member-specific benefit values to active, deferred, and retired members. Additionally, contributing employers must receive comprehensive notifications covering board meetings, legal actions, complaints, financial statements, guarantee calls, and material service provider concerns to ensure transparent fund governance.