The Namibia Financial Institutions Supervisory Authority has issued a directive prescribing the format for the rules of all retirement funds, beneficiary funds and friendly societies registered under the Financial Institutions and Markets Act, 2021. The directive, which took effect upon publication in the Government Gazette, applies to these entities and their boards, principal officers and administrators, and complements the retirement fund standards that took effect on April 30, 2026. The directive provides separate rule templates for funds and friendly societies, linking required provisions to applicable legislation, regulations and supervisory standards. Rules must meet prescribed formatting, signing and certification requirements, while their drafting should address transparency, plain language, risk management, governance, responsible business conduct and legal compliance. The templates cover core operational and governance matters, including membership, contributions, benefits, board responsibilities, appointments, complaints, amendments, dissolution, business transfers and stakeholder communications.

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