The Financial Sector Conduct Authority (FSCA) continues to assist with measures to alleviate financial impact that the COVID-19 lockdown is having on financial sector entities.
The FSCA issued Communication 11 of 2020 (“communication”) yesterday in an attempt to alleviate some of the pressure faced by employers who are unable to pay the full or any contributions on behalf of their employees to their retirement funds pursuant to section 13A of the PF Act.
The Communication goes on to request RF Boards to urgently submit requests for amendment to their rules to implement the proposal by the FSCA.
Please contact us for the process that needs to be followed as well as the submission of the information to the FSCA.
Fathima Khan-Ahmod
Director: Ahmod Consulting
Ahmod Consulting 