DE BEERS PENSION FUND COMMUNICATION - COMPLIANCE

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					                            FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                         Compliance by                       Remarks
                                                                                                                        Fund (tick if yes)
PF 86
1. MEMBER GUIDE & ANNUAL MEMBER INFO STATEMENT


Details of the Fund

1. Fund name and registered address.

2. The name or job title of the person to be contacted to answer queries together with the
    relevant telephone number.

3. Fund's reference number at the Registrar.



Details of Benefit

4. Member's name (plus class of membership, if applicable)
5. Date of Birth.
6. Date of admission to the fund (and date of effective membership if applicable, eg. where
    service is backdated)
7. Pensionable salary of member at the date of the statement.
8. Date of the statement as well as the date of the calculation of benefits.
9. A statement of the benefits that become payable at:
    a) Retirement:
        (i) The normal retirement date must be given.
        (ii) For a defined benefit fund the anticipated benefit formula based on current salary
            must be used to calculate the benefit.

                      PF 86/90/130 - Compliance checklist                                               Page 1                                   Nyani Communication -     Anette van der Spuy
                      While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                                FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                              Compliance by                       Remarks
                                                                                                                             Fund (tick if yes)
        (iii) For a defined contribution scheme, a statement of how the benefit is constituted, will
            suffice. The investment risk should also be explained.
        (iv) For a defined benefit fund, a statement to the effect that a reduced benefit becomes
            payable on early retirement, if applicable.
        (v) If the rules provide for fixed pension increases, this should be stated.
    b) Death
    c) Disability and ill-health early retirement benefit
        (if applicable).
    d) Withdrawal:
        The vesting provisions, the benefit payable on retrenchment as well as any additional
        entitlement which may be payable if benefits are preserved must be furnished.

Rate of Contributions:

10. a) Current contributions payable by the member and the frequency thereof.
    b) Current contributions payable by the employer and the frequency thereof. In the case of a
    defined contribution fund, this should be the actual amount with an indication whether
    management and risk benefit costs are included or not. In the case of a defined benefit fund,
    a statement that the employer's contributions are the balance of cost, will be sufficient.
    c) Where the calculation of a member's interest is dependent on market values, an
    explanation that the market risk may affect benefit levels, must be given.




                           PF 86/90/130 - Compliance checklist                                               Page 2                                   Nyani Communication -     Anette van der Spuy
                           While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                             FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                           Compliance by                       Remarks
                                                                                                                          Fund (tick if yes)

General

11. A statement that the rules, the financial returns and the most recent actuarial valuation report
    may be inspected at the registered office of the fund or at the main office of the employer.
    Should a member require any copies, the member should pay the costs thereof as set out in
    the rules.

12. The procedures for internal dispute resolution and access to the Retirement Adjudicator. This
    will only apply once the legislation commences. Until such time, reference should be made to
    the dispute resolution rule in the rules only.

13. A note stressing the importance of nominating a beneficiary and keeping any nomination up to
    date.

14. A statement that it is important to obtain professional advice, before electing a benefit, on
    termination of membership.

15. A statement to the effect that if the benefit statement conflicts with the rules, the rules will
    prevail.

16. A statement to the effect that all benefits may be subject to income tax depending on the tax
    regime.



2. NOTIFICATION OF MEMBERS ON SPECIFIC EVENTS


Fund restructuring

This heading comprises events which result in:
    a) voluntary fund termination in terms of section 28 of the Act;

    b) withdrawal of an employer (excluding umbrella funds with unrelated employers);

                        PF 86/90/130 - Compliance checklist                                               Page 3                                   Nyani Communication -     Anette van der Spuy
                        While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                            FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                          Compliance by                       Remarks
                                                                                                                         Fund (tick if yes)
    c) conversions from a defined benefit to a defined contribution fund;

    d) reduction or increase in benefits or contributions;

    e) transfer of benefits to another fund.
The information which should be provided on conversions should consist of a personal benefit
statement illustrating the effect of the conversion, stressing the difference in benefit structure and
the resulting transference of investment risk.
For transfers in terms of section 14, the statement should include a note of the transfer value and
the actual document is to be supplied by the transferor fund.
Reasonable notice (not less than 60 days) is to be given to the members of the intention to
restructure the fund, in order to allow time for objections.




                       PF 86/90/130 - Compliance checklist                                               Page 4                                   Nyani Communication -     Anette van der Spuy
                       While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                            FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                          Compliance by                       Remarks
                                                                                                                         Fund (tick if yes)

Withdrawal from service

Preferably, each member will have all options in terms of the rules explained before a cash
payment is selected. As a final fail safe mechanism, the letter enclosing any cash payment must
refer to any benefits which may be forfeited as a result of the cash payment, including the
elimination of liability for tax on transfer to another pension fund as defined in the Income Tax Act,
1962, preservation pension fund or retirement annuity.


Retirement

A notification explaining the available options in terms of the rules should be sent to the member
before the event. If the benefit is an annuity, it must state that a certificate of existence will be
required from time to time. Where the benefit is a lump sum payable from a provident fund, there
must be a note indicating that this is the full and final benefit payable.


Death

After the Trustees have decided to whom the benefit is payable in terms of Section 37C, the
beneficiaries/dependants who are to share in the benefit must each receive a letter notifying them
of the decisions made by the Trustees and setting out all the options available. Similar statements
must be made as envisaged for retirement where the benefit is an annuity or lump sum.




                       PF 86/90/130 - Compliance checklist                                               Page 5                                   Nyani Communication -     Anette van der Spuy
                       While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                              FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                            Compliance by                       Remarks
                                                                                                                           Fund (tick if yes)
PF 90
Part 1 - General information

1.    Full names of the pension fund and the type of fund.
2.    The registered address of the pension fund and the name of the principal officer.
3.    The registrar of Pension Funds' reference number for the pension fund.
4.    The name and address of the administrator, if applicable.
5.    The names of the trustees.
6.    The name or job title of the contact person at the pension fund or the administrator who will be
      available to answer queries and that person's telephone number, facsimile number, e-mail number,
      and, if that person's address is different from the pension fund or administrator, the address.
7.    Procedure to be followed in the event of an enquiry or complaint and to resolve disputes, should
      any arise. A reference to the adjudicator should be made.
8.    A request to notify the contact person, in writing, of any change in name, address, banking details
      or circumstance that is likely to affect that pensioner's, deferred pensioner's or dependant's
      membership of or benefit in the fund.
9.    A request that the Fund be informed, in writing, where applicable, of the choice of the method of
      payment, i.e. whether by cheque posted by ordinary or registered mail or by electronic transfer. A
      statement should be made on who carries the risk in each case if the payment does not reach the
      pensioner, deferred pensioner or dependant, as the case may be.
10.   Advice that the rules, annual financial statements and actuarial valuation of the fund, if applicable,
      may be inspected at the registered address of the pension fund.
11.   Advice that members have the right to elect 50% of the Board members and that the procedure for
      members to exercise this right is set out in the rules of the fund or, if the pension fund has been
      exempted from this requirement, advice to that effect.
12.   Brief information on policy relating to the governance of the pension fund, investment etcetera.
13.   A request, where applicable, that a nomination in respect of benefits be made.




                         PF 86/90/130 - Compliance checklist                                               Page 6                                   Nyani Communication -     Anette van der Spuy
                         While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                           FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                         Compliance by                       Remarks
                                                                                                                        Fund (tick if yes)

Part 2 - A. Initial disclosure to pensioners

1.  A request that the Initial Disclosure be retained for future reference since all Annual
    Disclosures must be read in conjunction with the Initial Disclosure and previous Annual
    Disclosures.
2. Pensioner's full names.
3. Date of Retirement.
4. A confirmation of how the gross amount of pension was calculated and an indication of what
    was exercised by the pensioner regarding commutation.
5. The amount of each pension payment after commutation, if applicable, and the details of any
    deductions that may be made.
6. The date and frequency of pension payments.
7. Conditions applicable to the payment of the pension, for example, guaranteed period,
    suspension of the pension or cessation of the pension.
8. Whether the pension will be subject to increases and, if so, the policy of the pension fund
    regarding pension increases. The fund may stress that the amount of the increases are not
    guaranteed and may point out the factors that will influence the increases.
9. Periodical requirements, for example, a certificate of proof of existence and the effects of non-
    compliance.
10. Whether any other benefits are payable by the pension fund, for example, medical benefits,
    and the circumstances under which they are payable.
11. Whether other benefits, for example, spouses' pension, children's pension or death benefits
    are payable on death.
12. Whether the pension is an untied annuity purchased from a life office or a pension from the
    fund and the implications of each.




                      PF 86/90/130 - Compliance checklist                                               Page 7                                   Nyani Communication -     Anette van der Spuy
                      While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                            FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                          Compliance by                       Remarks
                                                                                                                         Fund (tick if yes)
Part 2 - B. Initial disclosure to deferred pensioners

1.  A request that the Initial Disclosure be retained for future reference since all Annual
    Disclosures must be read in conjunction with the Initial Disclosure and previous Annual
    Disclosures.
2. Deferred pensioner's full names.
3. Date of cessation of active membership.
4. A statement of whether the deferred member may at any time withdraw from membership and
    how the withdrawal benefit will be calculated.
5. A description of how the death or ill health benefit, before retirement, if any, will be calculated.
6. The policy of the pension fund regarding growth of fund entitlement during deferment. The
    fund may stress that such growth is not guaranteed and may point out the factors that
    influence such growth.
7. A synopsis of what pension benefit the deferred pensioner will receive on retirement.
8. Whether the pension, upon retirement, will be subject to increases and, if so, the policy of the
    pension fund regarding pension increases. The fund may stress that the amount of the
    increases are not guaranteed and may point out the factors that will influence the increases.
9. Whether any other benefits will be payable by the pension fund, for example, medical benefits
    and the circumstances under which they are payable.
10. Whether other benefits, for example, a spouse's pension, a child's pension or a guaranteed
    pension is payable on death after retirement.
11. Whether the pension at retirement will be an untied annuity purchased from a life office or a
    pension from the fund and the implications of each.


Part 2 - C. Initial disclosure to dependants

1.   A request that the Initial Disclosure be retained for future reference since all Annual
     Disclosures must be read in conjunction with the Initial Disclosure and previous Annual
     Disclosures.
2.   Deceased member's full names and date of death.
3.   Dependant's full names.
4.   A summary of all benefits that were payable on death, what was already paid and what will be
     allocated towards payment of a dependant's pension. A confirmation of how the gross amount
     of pension was calculated.
5.   The gross amount of each payment and the details of any deduction that may be made.
                       PF 86/90/130 - Compliance checklist                                               Page 8                                   Nyani Communication -     Anette van der Spuy
                       While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                            FUND COMMUNICATION - COMPLIANCE WITH PF86, PF90 & PF 130
                                                                                                                          Compliance by                       Remarks
                                                                                                                         Fund (tick if yes)
6.  The date and frequency of payments.
7.  Conditions applicable to the payment, for example, guaranteed period, suspension or
    cessation.
8. Whether the payment will be subject to increases and, if so, the policy of the pension fund
    regarding increases. The fund may stress that the amount of the increases is not guaranteed
    and may point out the factors that will influence the increases.
9. Special requirements, for example, a copy of the birth certificate or identity documentation or
    proof of continued qualification and the effects of non-compliance.
10. Whether any other benefits are payable by the pension fund, for example, medical benefits,
    and the circumstances under which they are payable.
11. Whether the pension is an untied annuity purchased from a life office or a pension from the
    fund and the implications of each.


Part 3 - Annual disclosure

1. The date of the Annual Disclosure.
2. A statement that the Annual Disclosure must be read in conjunction with the Initial Disclosure
   and previous Annual Disclosures and that it updates the Initial Disclosure and previous
   Annual Disclosures.
3. Details of all variations to Part 2 of the Initial Disclosure (which includes the General
   Information in Part 1).


Part 4 - Special disclosure

1.   The date of the Special Disclosure.
2.   A statement that the Special Disclosure must be read in conjunction with the Initial Disclosure
     and, if applicable, all previous Annual Disclosures and that it updates them.
3.   The details of the Special Event and the effect, if any, it will have on the pensioner, deferred
     pensioner or dependant.
4.   Action or recourse that the pensioner, deferred pensioner or dependant may take if
     dissatisfied with or aggrieved by the Special Event.




                       PF 86/90/130 - Compliance checklist                                               Page 9                                   Nyani Communication -     Anette van der Spuy
                       While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                                     RETIREMENT FUND COMMUNICATION - COMPLIANCE WITH PF130
                                                                                                          Compliance by                                      Remarks
                                                                                                             Fund
PF 130
General
             Communication to the Board and members must be done in an adequate,
              appropriate and cost-effective manner. Audiences should be given the
              opportunity to understand the information and to make informed decisions.



Benefit issues
             Benefit calculations
             Method and timing of benefit payments



Management issues
             Management (BOT and sub-committees)
             Name and contact details of the administrator
             The Fund’s risk management policy
             The Fund’s investment policy statement
             The Fund’s communication policy
             There should also be a statement in the annual financial statements that the
              fund has the above documents in place; that they were viewed by the Board
              and that they are available to members on request, or via the website or PO.



Regulatory issues
             Changes to the rules of the fund
             Important changes to regulatory requirements or issues raised by the Registrar


                         PF 86/90/130 - Compliance checklist                                              Page 10                                   Nyani Communication -     Anette van der Spuy
                         While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za
                                 RETIREMENT FUND COMMUNICATION - COMPLIANCE WITH PF130
                                                                                                        Compliance by                                      Remarks
                                                                                                           Fund
          Any Pension Fund Adjudicator determinations against the fund
          All deviations from policy, rules, etc.



Funding issues
          Financial data and extracts from the annual financial statements;
          Funding status and funding method of the fund (including cash flow)
          Changes in investment strategy
          The performance of the Fund’s investments (investment returns and
           measurement against benchmarks)




Member investment issues
          Details of the investments in respect of which members may make an election
          The severity of any associated risk (and especially that members carry the
           investment risk)
          Performance benchmarks
          Underlying type of investments
          Reminders of the need to review their investment choices periodically




                       PF 86/90/130 - Compliance checklist                                              Page 11                                   Nyani Communication -     Anette van der Spuy
                       While care has been taken to include all relevant information, please refer to the actual PF circulars in case of doubt.             084 466 9264 / anette@nyani.co.za

				
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