A valuation was performed as at <insert date> and the valuator reported that the fund was in a sound financial position, and that the present rates of contributions are adequate to enable the fund to provide the benefits to which members are entitled. REPORT OF THE BOARD OF TRUSTEES - CONTINUED For the period ended ….. HOUSING LOAN FACILITIES / HOME LOAN GUARANTEES Loans and guarantees to members were granted in terms of rule <insert rule no> and the provisions of Section 19(5) of the Pension Funds Act in Namibia, and are secured by members’ withdrawal benefits and/or mortgage bonds. AND/OR <User defined paragraph giving details of the home loan guarantees> INVESTMENTS IN PARTICIPATING EMPLOYERS The fund holds no direct investments in the participating employer. OR <Insert detail pertaining to investments in participating employer> Details of investments held in participating employers are provided in note <insert note no> to the financial statements. The Registrar of Pension Funds has approved investments exceeding 5%, but not 10% of the fair value of the fund’s investments. SIGNIFICANT MATTERS <Insert detail of any significant matters> Examples: Change of name On <insert date> the fund changed its name from ……………… to ……………….. Section 14 transfer to xxx: The fund is in the process of applying for a Section 14 transfer to <Fund name> with effect from <insert date>. The Section 14 transfer application was submitted to the Registrar on <insert date>. The value of the Section 14 transfer was N$ xxx as at the end of the financial period. 8. SUBSEQUENT EVENTS <Insert description of any material occurrences affecting the financial position of the fund subsequent to the end of the current period> Examples: Subsequent to the end of the current period the fair value of investments decreased by N$X. This devaluation of x% in the investment portfolio has not been accounted for in the annual financial statements. Rule amendment <insert rule number> was approved by the Registrar after year end on <insert date> which allows for the following: xxxxxx Subsequent to year end the fund’s investment strategy changed to incorporate the following: xxxxxx STATEMENT OF NET ASSETS AND FUNDS At ….. Notes Current period N$ Previous period N$ ASSETS Non-current assets Property, plant and equipment 1 Investments (including investment and owner occupied properties) 2
STATEMENT OF CHANGES IN NET ASSETS AND FUNDS For the period ended … Notes Active Members’ individual accounts/ Accumulated funds Current period N$ Pensioners’ accounts Current period N$ Reserve accounts Current period N$ Total Current period N$ Total Previous period N$ Active Members’ individual accounts/ Accumulated funds Previous period N$ Pensioners’ accounts Previous period N$ Reserve accounts Previous period N$ Contributions received and accrued 11.1 Contributions transferred from reserve accounts 21 Net investment income Reinsurance proceeds Other income 13 Less: Re-insurance premiums Administration expenses 14 Net income before transfers and benefits Transfers and benefits Transfers from other funds 5 Transfers to other funds 6 Benefits 8 Net income after transfers and benefits (carried forward) STATEMENT OF CHANGES IN NET ASSETS AND FUNDS - CONTINUED For the period ended … Notes Active Members’ individual accounts/ Accumulated funds Current period Pensioners’ accounts Current period Reserve accounts Current period Total Current period Total Previous period Active Members’ individual accounts/ Accumulated funds Previous period Pensioners’ accounts Previous period Reserve accounts Previous period
2. Investments - continued Investment properties Description At beginning of period N$ Additions N$ Disposals N$ Fair value adjustments N$ Transfer to/from owner occupied properties N$ Other N$ At end of period N$ All investment properties were revalued on [insert date], by an independent qualified valuer who is familiar with revaluation of office towers at open market values. Housing loan facilities Housing loans At beginning of period N$ Granted N$ Repaid N$ Interest capitalised N$ Other adjustments N$ At end of period N$ Loans granted in terms of the rules of the fund and Section 19(5) of the Pension Funds Act in Namibia <Insert paragraph explaining the terms of the loan and the security given> Housing loan guarantees The fund has granted guarantees to ……….. (Institution) for loans granted to members. A guarantee amounting to N$…….. is renewable on ….. (date). The amount of the guarantee may not exceed ….% of the cash benefit that a member would receive if he or she had to terminate membership to the fund voluntarily.
NOTES TO THE FINANCIAL STATEMENTS – CONTINUED For the period ended … Accounts receivable Current period N$ Previous period N$ (Specify if material) Transfers from other funds Effective date No. of members At beginning of period N$ Transfers approved N$ Net investment return N$ Assets transferred and adjustments N$ At end of period N$ In terms of Section 14 Name of fund Name of fund Individual transfers 5.1 Transfers applied for not yet approved No. of members Total N$ In terms of Section 14 Name of fund Name of fund Transfers to other funds Effective date No. of members Beginning of period N$ Transfers approved N$ Net investment return N$ Assets transferred and adjustments N$ At end of period N$ In terms of Section 14 Name of fund Name of fund Individual transfers
Schedule IA Annexure A to Schedule I For the period ended … 1 Membership statistics Current period Number Previous period Number (a) Active members (b) Pensioners in receipt of regular payments 2 Equities: 2.1 Equities with primary listing on NSX No of shares Current period N$ Previous period N$ <Insert name of listed share> <Insert name of listed share> 2.2 Equities with secondary listing on NSX No of shares Current period N$ Previous period N$ <Insert name of listed share> <Insert name of listed share> 2.3 Foreign listed equities No of shares Current period N$ Previous period N$ <Insert name of listed share> <Insert name of listed share> 2.4 Equity index-linked instruments No of shares Current period N$ Previous period N$ <Insert name of listed share> <Insert name of listed share> 2.5 Unlisted equities No of shares Current period N$ Previous period N$ <Insert name of share> <Insert name of share> Annexure A to Schedule I (CONTINUED) For the period ended …