RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

Agree the gross benefit amount from 9.2.1 to the gross benefit from the calculation obtained. Note any differences. For a defined contribution fund: For members who were active during the period/year ended, perform the following procedures: i. Obtain the opening fund credit amount as at the beginning of the period/year from the member record on the administration system. ii. Inspect the member record on the administration system to confirm that monthly contributions were added, for the period up to the date of exit as per 9.2.1. Note any exceptions. iii. Obtain the bank statements reflecting the benefit payment(s) from the Fund administrator and agree the net benefit amount(s) as per procedure 9.2.1 to the bank statements, and note any differences. iv Inquire with the Fund administrator about the nature of any differences noted in iii and detail the responses provided (e.g. interest, where applicable). For members who were paid up and/or deferred: i. Obtain the opening fund credit amount as at the beginning of the period/year from the member record on the administration system. ii. Inspect the member record on the administration system to confirm that interest was added, for the period up to the date of exit as per 9.2.1. Note any exceptions. iii. Obtain the bank statements reflecting the benefit payment(s) from the Fund administrator and agree the net benefit amount(s) as per procedure 9.2.1 to the bank statements, and note any differences. iv. Inquire with the Fund administrator about the nature of any differences noted in iii and detail the responses provided (e.g. interest, where applicable).

i. The opening fund credit amount was obtained from the administration system. ii. The member records on the system was inspected and the monthly contributions were confirmed for the period up to the date of exit. No exceptions noted iii. The bank statements were obtained reflecting the payments and agreed to the net benefit amount. No material differences noted.

iv. The differences noted were not deemed to be material

82 Rand Water Provident Fund Annual Report | 2022-2023