Retirement Fund Solutions
Benchmark Retirement Fund
There is a need for a fresh approach to considering the NPF. The time I served on Social Security Commission (SSC) board enabled me to get good grasp and perspective on the key issues involved in the considerations for establishing the NPF from the vantage point of Government, labour, employers and SSC itself.
An amendment to the Administration of Estates Act (Government Gazette 6813 of 31 December 2018) has been passed by parliament and signed into law on 31 December 2018. It requires with immediate effect, that all monies payable to minors and persons under curatorship payable from pension funds, insurance policies, annuities and even from deceased estates, to be paid to the Guardians Fund in the Master’s Office.
It appears that the annual ERS returns as at 31 December funds had to submit by 15 February over the past few years has now been replaced by a quarterly ‘Chart of Accounts’ (CoA) return.
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