We liaise and interact with the Pension Funds Industry in relation to, amongst others:
- Applications for the transfer of business between funds (Section 14s);
- Submissions of statutory actuarial valuation reports for Pension Funds as submitted by private sector actuaries;
- Surplus apportionment schemes, nil schemes, transfers of employer surplus; tribunal determinations;
- Applications for valuation exemption; and
- Applications for extensions for the late submission of statutory returns.
Internally, we provide actuarial support to the Pensions Department by amongst others:
- Scrutinizing fund rules, rule amendments and revised rules to make sure that they are financially sound;
- Providing actuarial analysis of the distribution accounts when retirement funds are liquidated, including determining whether or not members rights and reasonable benefit expectations have been satisfied;
- Accompanying the Pensions Department on compliance visits to Administrators;
- Providing actuarial input into policy & legislation; and
- Assisting with the training needs of the Department.