PI-PF-02-2014 – Revocation of Certain Circulars

29 September 2014

TO: Principal Officers of all registered Pension Funds CC: All Investment Managers managing Pension Fund Assets Chairperson: RFIN Chairperson: ICAN The President: SAN

CIRCULAR: PI/PF/02/2014

EFFECTIVE DATE: 29 September 2014

SUBJECT: REVOCATION OF CERTAIN CIRCULARS DUE TO THE AMENDMENT OF REGULATION 28 UNDER THE PENSION FUNDS ACT, ACT NO. 24 OF 1956

1 Introduction

1.1 This Circular is issued by virtue of NAMFISA’s functions and powers and those of its CEO in his capacity as the Registrar of Pension Funds in terms of the Namibia Financial Institutions Supervisory Authority Act, Act No. 3 of 2001 and is applicable to all pension fund organizations registered under the Pension Funds Act, Act No. 24 of 1956 (“PF Act”).

1.2 The purpose of this Circular is to notify the industry of the revocation of the Circulars listed below. The said revocation was necessitated by the amendment of Regulation 28 promulgated under the PF Act.

2 Revocation of Circulars

Due to the amendment of Regulation 28 promulgated under the PF Act by Government Notice number 351 as contained in Government Gazette number 5383/2013, published on 31 December 2013, the following Circulars numbered 2.1 to 2.6 are hereby and henceforth revoked with immediate effect:

2.1 PF No. 01, issued on 17 June 1994;

2.2 PF No. 02, issued on 27 June 1994;

2.3 PF No. 05, issued on 15 March 1995;

2.4 PF No. 06, issued on 15 March 1995;

2.5 PF No. 07, issued on 15 June 1995; and

2.6 Circular No. 2/2002, issued on 20 May 2002.

The aforesaid Circulars dealt with prior amendments to Regulation 28 under the PF Act and are accordingly no longer applicable.

Should you require more clarity on this Circular, kindly contact the Manager: Pension Funds at telephone number 061-290 5000.

Phillip N. Shiimi
Registrar of Pension Funds

Tel: +264 61 290 5000, Fax: +264 61 290 5157, PO Box 21250, Windhoek, Namibia, 154 Independence Ave, Sanlam Centre, www.namfisa.com.na