Regulatory Alerts2021-11-10
Added · Updated
Requirements for a Board Communication Strategy
The Namibia Financial Institutions Supervisory Authority issued Standard RF.S.5.13 to mandate retirement funds, qualified financial institutions, and income providers to adopt a board-owned communications strategy. The regulation requires these entities to implement clear processes for disseminating benefit information, managing complaints, classifying data confidentiality, ensuring timely contribution reporting, and providing electronic access to member accounts. By enforcing structured protocols for disclosing transfer rights, applicable charges, and insolvency risks, the standard guarantees that active, inactive, and retired members receive accurate, accessible information regarding fund performance and administrative obligations.