RAND WATER PROVIDENT FUND ANNUAL REPORT 2022-2023

11.4.2.3 Obtain the Certificate of Existence or Department of Home Affairs documentation noted in procedure 11.2.4 from the Fund administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) and inspect for the pensioner’s name and/or identification number. Note any exceptions. General 12.1 Obtain a copy/copies of the fund’s fidelity insurance cover/policy from the Fund 12 administrator, ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) for the 2023 financial year ended 30 June 2023, and inspect the period of the cover 01 July 2022 to 30 June 2023 Note instances where the cover period does not extend to the year-end. Note the date on which the cover is in place. 12.2 Inquire from the Fund administrator the date(s) of the latest approved Group Life Assurance (GLA) and/or disability benefit policies of the Fund and note the period of cover(s) and whether the cover(s) extended subsequently to the year-end. Note the end date of the cover(s). 12.3 Inquire from the Principal Officer the date of the latest statutory actuarial valuation and when it was submitted to the Authority. Note the date of the valuation and the date of submission to the Authority. Where the Fund is valuation exempt, inquire from Principal Officer when the valuation exemption was approved by the Authority and note the date.

Not applicable. The Fund did not make purchase any annuities

We obtained a copy/copies of the fund’s fidelity insurance cover/policy from the Fund administrator of ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) and inspected the period of the cover (01 July 2022 to 30 June 2023.The period of the cover per the policy extended to the year- end. We obtained a copy/copies of the fund’s fidelity insurance cover/policy from the Fund administrator of ‘Rand Water Provident Fund’, represented by Mr. Amos Mojapelo (Senior Accountant) and inspected the period of the cover (01 July 2022 to 30 June 2023.The period of the cover per the policy extended to the year- end. As per discussion with Amos Mojapelo (Senior Accountant) on 10/10/2023, Rand Water Provident Fund has applied for an exemption to perform an actuarial valuation. We have inspected the NOTICE ON VALUATION EXEMPTION, 2014 submitted by the Board of Trustees to FCSA on 17/03/2023 requesting the FCSA to exempt the Fund from performing an actuarial valuation. To date, the Fund is awaiting feedback from FCSA. Based on the Fund’s prior experience with FCSA, there is normally a delay from FCSA with regards to providing feedback due to backlog.

92 Rand Water Provident Fund Annual Report | 2022-2023