Regulatory Alerts2021-11-10
Added · Updated
Requirements for the Rules of a Fund
The Namibia Financial Institutions Supervisory Authority issued Standard RF.S.5.4 to mandate the content, format, and governance procedures for all registered retirement funds. The standard requires fund rules to explicitly address membership eligibility, contributions, benefit payments, trustee appointments, investment powers, valuation audits, and clear procedures for amending or terminating the fund. Existing funds must align their rules within six months of commencement, while future amendments require board resolutions, valuator certificates for financial impact, and prompt member notification.
Topics
Share