01. How does PenCom ensure the soundness of PFAs and PFCs?
PenCom ensures that only fit and proper persons are appointed as Directors and Top Management of the PFAs and PFCs. It also entrenched sound corporate governance in the pension industry, which is strictly monitored through off-site supervision to review the reports submitted by the PFAs and PFCs on periodic basis; and on-site examination to physically review their books and records, on annual basis, to confirm that their operations are within the confines of the law.
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