Regulatory Alerts2021-11-10
Added · Updated
RF.S.5.3 Minimum Information to be Furnished by an Employer
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Standard RF.S.5.3 to mandate that employers provide specific minimum information to registered retirement funds regarding contribution payments. Employers must include comprehensive member data such as identity numbers, demographic details, membership status, contact information, and updated beneficiary nominations within their contribution schedules. The standard further requires precise reporting of Namibian dollar contribution amounts and percentages, salary bases, additional voluntary contributions, late retiree notifications, and housing loan deductions.
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