Financial Services Board Act, 1990 (Act No. 97 of 1990)NoticesLevies for Financial Institutions, 20196. Levy for Pension Funds Adjudicator |
| (1) | The levy for the Pension Funds Adjudicator, in respect of a pension fund registered or provisionally registered in terms of the Pension Funds Act, including a pension preservation fund, provident preservation fund, a retirement annuity fund and commercial umbrella fund, is an amount of R6.59 per member of such fund and any other person who receives regular periodic payments from such fund, but excluding any member or such person, whose benefit in the fund remained unclaimed. |
(2)
| (a) | If a transfer of members is in process and not finalised on 30 June of the levy year, the transferor fund must pay the levy in respect of the members to be transferred. |
| (b) | Where the appointment of a liquidator of a fund is approved or where a fund has been exempted from section 28 of the Pension Funds Act by the Authority after 30 June of the levy year, the levy for the fund is payable in full for the levy year. |
| (3) | The levy referred to in subparagraph (1) may be paid with the levy referred to in paragraph 3 and is payable on the date specified in paragraph 3(3). |