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Pensions

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.
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