The Namibia Financial Institutions Supervisory Authority exists to supervise financial institutions and financial services, and to advise the minister of finance on matters relating to financial institutions and financial services in terms of the Namibia Financial Institutions Supervisory Authority Act, 2001 (No. 3 of 2001).
On 23 March 2026, Namfisa convened an engagement with retirement fund industry participants, including fund members, officers and organised labour, to discuss key concerns relating to the Financial Institutions and Markets Act, Act (No. 2 of 2021).
This notice serves to provide clarity on the lump-sum cash entitlements at retirement.
Namfisa therefore wishes to clarify that the commutation rules, being one-third cash entitlement of the retirement benefits at retirement applicable to pension funds, retirement annuity funds and preservation funds, and the 100% lump-sum cash entitlement at retirement for provident funds as currently provided for under the Income Tax Act, Act No. 24 of 1981, will remain unchanged upon the initial commencement of the Financial Institutions and Markets Act, Act (No. 2 of 2021).
For more information, kindly contact Namfisa at info@namfisa.com.na.
