The FSCA has published instructions on how retirement fund administrators must report file reports on employers that have not paid contributions.
Conduct Standard 1 of 2022 sets out employers and funds’ statutory obligations in respect of fund contributions. It came into effect on 20 February last year.
Read: Reminder: conduct standard on retirement fund contributions is now in effect
In February 2023, the FSCA published RF Notice 8 of 2023, which determined the format of documents required to be submitted to the FSCA in terms of various paragraphs in the Conduct Standard.
In a communication issued last week, the FSCA said submissions have either not been in the prescribed format or contain incorrect information that renders the uploaded file inaccessible.
Communication 22 of 2024 (RF) includes an annexure that provides guidance on how on the Arrear Contributions Template must be completed and on how the file and additional documents must be uploaded.
