RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

Tax amount: i. Agree the tax amount related to the benefit per the Tax directive obtained from the Fund administrator ii. to the tax amount deducted as reflected on the administration system. Note any differences.

Accountant) agreed to the exit date reflected on the administration system. Tax amount: The tax amount related to the benefit per the tax directive obtained from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) agreed to the tax amount deducted as reflected on the administration system. No differences noted. The portion of the benefit that had been reinsured had been noted A confirmation letter was obtained from the insurer which reflects the amount of the benefit We recalculated the reinsurance proceed amount by multiplying the member’s latest salary with the factor both that was obtained from the member’s record on the administration system and compared to the recalculated amount with the amount on the confirmation letter. No differences were noted. A listing of reinsurance proceeds was obtained, reflecting all proceeds received per death benefit for the year, from the Fund administrator and agreed to the amount per the confirmation letter obtained. No exceptions noted.

9.2.2 For death benefits, and where applicable, disability benefits, where a portion of the benefit had been reinsured by the Fund (reinsurance proceeds): Note the portion of the benefit that had been reinsured as reflected on the administration system. Obtain a copy of the confirmation letter from the insurer which reflects the amount of the benefit from the Fund administrator. Recalculate the reinsurance proceed amount by multiplying the member’s latest salary with the factor both that can be obtained from the member’s record on the administration system and compare the recalculated amount with the amount on the confirmation letter, and note any differences. Obtain a listing of reinsurance proceeds, reflecting all proceeds received per death benefit for the year, from the Fund administrator and agree the amount per the confirmation letter obtained above to the listing, and note any exceptions. For a defined benefit fund and hybrid funds with a defined benefit underpin: Obtain the gross benefit as calculated by the Fund Actuary from the Fund administrator. 9.2.3

Rand Water Provident Fund is a Defined Contribution Fund. As a result, the procedure is not applicable.

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