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Pensions Circular 02 - Role Of The Pension Administrator

This Circular is intended to provide information on the duties and responsibilities of the pension plan administrator as set out in the provisions of the

Occupational Pensions Benefits Act Cap 350B ("OPBA") and its regulations. The Financial Services Commission ("the Commission"), through the Financial Services Commission Act 2010-21 ("the FSC Act") is responsible for the administration of the OPBA.

2. The Commission intends through this Circular to (a) provide guidance to pension administrators (b) assist them in discharging their respective roles under the OPBA while promoting best practices throughout the pensions industry. This Circular is not intended to be a substitute for or replace any additional obligations under the OPBA, its regulations or the FSC Act. Due to the dynamic nature of the various financial institutions that the Commission regulates, there may be the need for revision of this Circular from time to time.