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COVID-19 – FSCA provides guidance for retirement funds industry

The FSCA has issued guidance for regarding employers who are unable to pay the full or any contributions on behalf of their employees to their retirement funds in accordance with section 13A of the Pension Funds Act.

The FSCA wishes to draw boards of funds’ attention to apply the relevant rule/s to employers and members in order to alleviate the challenges that they are currently facing. In the event that funds do not have relevant rules which make provision for financially distressed employers and/or employees, such funds are requested to submit such rule amendments urgently.

Click here to download the FSCA Communication for more information.

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