The Registrar released a draft circular titled, The Commencement of Participation, Termination and Re-Commencement of Participation of Participating Employers in Umbrella Funds, on 27 February 2015.
The introduction states that the Registrar wishes to provide guidance to the boards of umbrella funds on the commencement, termination, and re-commencement of an employer’s participation in an umbrella fund.
It also canvasses the erroneous ‘de-registration’ of the participation by employers in umbrella funds in the past and how it may be remedied.
Please click here to download the draft circular.
Please click here to download the accompanying annexures.