Regulations: history of amendments

The Pension & Provident Funds Regulations, 1991, have been amended ten times. In the following table is a list of the ten amendments together with a summary of their effect.

Item Statutory Instrument (SI) Summary
Pension & Provident Funds Regulations, 1991 SI 323 of 1991 The principal regulations
Amendment No. 1 SI 115 of 1995 [*repealed] Full commutation ceiling increased from $600 per annum to Z$1,000 per annum.
Amendment No. 2 SI 276 of 1997 Two items:
  1. Registration fees are increased;
  2. A new concept, the "professional fund manager or consultant" is defined (basically a person, other than an insurer, who administers pension funds) and various items of information to be supplied are specified.
Amendment No. 3 SI 146 of 1999 [*repealed] Full commutation ceiling increased to Z$4,800 per annum.
Amendment No. 4 SI 11 of 2001 [*repealed] Full commutation ceiling increased to Z$12,000 per annum.
Amendment No. 5 SI 12 of 2002 [*repealed] Amendment to order of benefits payable on death to give trustees wide discretion.
Amendment No. 6 SI 18 of 2002 [*repealed] Full commutation ceiling increased to Z$30,000 per annum.
Amendment No. 7 SI 157 of 2002 An important amendment which increased the minimum benefits payable. See this paper for a further discussion.
Amendment No. 8 SI 180 of 2002 This amended the order in which benefits payable on death are payable to beneficiaries, specifically to give the surviving spouse and dependant children equal priority.
Amendment No. 9 SI 298 of 2002 Increased registration fees.
Amendment No. 10 SI 166 of 2003 Full commutation ceiling increased to Z$60,000 per annum from 1 January 2003
Amendment No. 11 SI 260 of 2003 The ceilings on additional voluntary contributions to pension funds and contributions to retirement annuity funds were removed.

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