Regulatory Alerts2023-04-05
Added · Updated
Retirement Funds Standards under the Financial Institutions and Markets Act, 2021
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued these standards under the Financial Institutions and Markets Act, 2021 to establish comprehensive regulatory requirements for retirement funds. The framework mandates statutory actuarial valuations and detailed reporting for all registered funds, defines the calculation of actuarial surplus, and prescribes minimum contribution data that employers must provide. Furthermore, it sets out mandatory provisions for fund rules and their amendments to ensure consistent governance and financial soundness.
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