Regulatory Alerts2026-07-08
Added
Prohibition Against the Reversion of Unclaimed Monies or Benefits
The Registrar of Pension Funds prohibits registered pension funds from allowing unclaimed monies or benefits to revert to the fund. Boards of Trustees must remove any rule provisions permitting such reversion and instead ensure unclaimed amounts are deposited into the guardian’s fund in accordance with section 93 of the Administration of Estates Act after five years. Funds may deposit these amounts into the guardian’s fund earlier if their rules permit, and trustees must take reasonable steps to trace beneficiaries entitled to benefits.
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