The Financial Sector Conduct Authority (FSCA) is an independent institution, established by statute to oversee the South African non-banking financial industry to protect clients.

In the Retirement Fund industry, their mission is to promote a safe and stable environment for members of Retirement Funds and Friendly Societies, so that obligations of all stakeholders are met when due through our commitment, professionalism and teamwork.

In a nutshell, the FSCA is responsible for the following with regards to Retirement Funds:

  • Departmental Structure
  • Licensing and Registration
  • Registration of Pension Fund rules and Amendments thereto
  • Licensing of 13B administrator
  • Prudential
  • Monitor Financial Soundness of Funds
  • Monitor Compliance with Prudential investment  guidelines
  • Supervision of liquidations
  • Surveillance and Enforcement
  • On-Site visits
  • Risk-Based Supervision
  • Complaints
  • Research and Policy
  • Changes to legislation
  • Issue of Directives, circulars and information circulars

Click on their link below to read in more detail about the FSCA