Regulatory Alerts2026-07-08
Added
PI-PF-DIR-01-2016 – Costs Incurred in the Admin of Unclaimed Benefits
The directive prohibits registered pension funds from deducting administration or tracing costs for unclaimed benefits from the benefit itself unless the Registrar’s approval is obtained under section 37D(c)(iii) of the Pension Funds Act. Boards of Trustees must amend fund rules to permit such requests and submit Annexure A with supporting documentation to seek specific approval. Additionally, members must sign Annexure B to authorize potential deductions before exiting a fund or upon joining.
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