‘FIMA Should Not Threaten Private Sector Pension Funds’… private sector funds irked by lack of clarity on National Pension Fund proposal

 

Justicia Shipena

 

The Namibian Building Workers Pension Fund (NBWPF) has expressed concern about the lack of clarity regarding the Financial Institutions and Market Act (FIMA) and its potential mandatory preservation requirements of retirement assets.

“The fact that we still do not have clarity about FIMA and possible compulsory preservations and that a national pension fund might be introduced, requires us to actively engage with our stakeholders,” Enwich Kazondu, NBWPF’s primary officer said.

Kazondu stressed the importance of active engagement of pension funds with stakeholders to address uncertainties surrounding FIMA and the possible introduction of a national pension fund.