The Namibia Financial Institutions Supervisory Authority has published a government gazette containing a broad suite of standards for retirement funds under the Financial Institutions and Markets Act, 2021. The standards took effect upon gazette publication on April 30, 2026, and apply to registered funds and, depending on the subject, their boards, principal officers, valuators, employers, administrators, service providers and retirement income providers. The framework requires funds to maintain a funding ratio of at least 100% and contribution rates expected to preserve that position. Defined benefit funds must obtain annual valuator reports, while defined contribution funds must do so at intervals of no more than three years unless exempt. Where funding falls below 100%, the board must notify the authority and sponsoring employers, then secure a corrective payment within three months or develop an approved rehabilitation plan within that period to restore full funding within no more than five years. The standards also cover minimum member benefits, governance, investment policies, actuarial and annual reporting, contribution data, member and employer communications, beneficiary nominations, fund transfers, dissolution and registration. Existing funds must amend their rules to comply within 12 months of the standards taking effect. Boards remain accountable for outsourced functions and face requirements covering annual performance evaluations, trustee and service-provider tenure, risk management and disclosure.

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