RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

3 Accumulated funds (for defined benefit funds as well as defined benefit sections of hybrid funds 3.1 Obtain a list of defined benefit members as at 30 June 2023 from the Fund administrator and perform the following procedures: 3.2 Select a sample of the lesser of 25 or 10% of the number of defined benefit members at 30 June 2023 from the list of members provided by the Fund administrator (selected based on the selection criteria provided above). Perform the following procedures for each member, for each of the following three months: • [Insert Month x; • Insert Month y; and • Insert the last month of the year.] 3.2.1 Obtain a list of the member contributions received and allocated for the respective months on the administration system from the Fund administrator. 3.2.2 Obtain the supporting documentation supplied by the participating employers to the Fund administrator for the respective months. 3.2.3 Agree the member contributions received and allocated as obtained in 3.2.1 with 3.2.2 and note any differences. 3.2.4 Calculate the member contribution rates for each member selected by dividing the contribution by the salary per the supporting documentation obtained in procedure 3.2.2. Agree the calculated member contribution rate(s) to the rate(s) noted in the rules of the fund obtained in procedure 2.4 and note any differences. 3.3 Inquire from the Principal Officer when the actuarial valuation of the Fund was last performed and approved by the Board of Fund. Note the date of the last valuation and when it was approved by the Board of Fund.

Rand Water Provident Fund is a Defined Contribution Fund. Procedures 3.1 to 3.5 are therefore not applicable.

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Rand Water Provident Fund Annual Report | 2022-2023 71