Regulatory Alerts2026-07-13
Added
Namibia Financial Institutions Supervisory Authority Standards under the Financial Institutions and Markets Act, 2021: Retirement Funds
The Namibia Financial Institutions Supervisory Authority publishes standards under the Financial Institutions and Markets Act, 2021, which come into effect on the date of publication in the Gazette. Standard RF.S.5.1 defines actuarial surplus and deficit for defined benefit funds, calculating the result as accrued assets minus accrued liabilities. Standard RF.S.5.2 mandates valuator investigations and reports for all registered funds, specifying detailed disclosure requirements for defined benefit and defined contribution funds, including membership profile changes exceeding 20 percent and asset-liability matching certifications. Standard RF.S.5.3 requires employers to furnish specific member information, such as identity numbers, contribution amounts, and beneficiary nominations, to funds. Standard RF.S.5.4 establishes requirements for fund rules, ensuring they are consistent with the Act and cover eligibility, contributions, benefits, and membership conditions.