RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

• Adding/subtracting the returns allocated to the member as calculated using the basis provided by the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) in procedure 2.5.2.2. Agree the recalculated amount to the member’s fund credit per the closing listing obtained in procedure 2.1. and note any differences. Switches Obtain a list from the Fund administrator of the members who switched investment portfolios during the year-end (including Lifestage switches). Select a sample of the lesser of 25 or 10% of the members who switched between investment portfolios during the year (selected based on the selection criteria provided above), and perform the following procedures:

2.6

We have selected a sample of members who elected to switch investment portfolios during the year-end, as per the list obtained from the Fund administrator. This sample represents the lesser of 25 members or 10% of those who made switches, in accordance with the provided selection criteria.

2.6.1 Obtain the service level agreement / client mandate between the administrator and the Fund from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) and note the following terms: • Days indicated to process a member elected switch.

We have obtained the service level agreement/client mandate between the administrator and the ‘Rand Water Provident Fund’ from the Fund administrator, represented by Mr. Amos Mojapelo (Senior Accountant). The following terms were noted: • Days to Process a Member-Elected Switch: The mandate specifies 30 days as the time frame to process a member- elected switch. • Timing to Effect a Lifestage switch: The timing for effecting a lifestage switch was not applicable or not specified in the mandate. • Fees Deductible from Member Individual Accounts to Process a Switch: A fee of R402.50 is deductible from the member’s individual accounts for processing a switch. I have obtained the instructions for all the members included in the sample selected in procedure 2.6, who elected to switch investment portfolios. These instructions were acquired from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant).

• Timing to effect a lifestage switch. • Fees deductible from the member individual accounts to process a switch.

Member-elected switches For member-elected switches included in the sample selected in procedure 2.5, obtain the member’s instruction to switch investment portfolios from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant), and perform the following procedures:

2.6.2

66 Rand Water Provident Fund Annual Report | 2022-2023