Regulatory Alerts2017-04-07
Added · Updated
Pension Funds Act 24 of 1956
The President of South Africa enacted the Pension Funds Act 24 of 1956 to establish a comprehensive regulatory framework for the registration, incorporation, and oversight of pension funds. The legislation mandates the appointment of a Registrar to supervise fund compliance, requiring regular financial reporting, actuarial valuations, and the submission of statutory documents. It further grants the Registrar authority to inspect operations, cancel or suspend registrations, and legally protect members' benefits from reduction, execution, or insolvency.
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