Namibia: New Trusteeship Reality Under Fima

[New Era] For most employees, being nominated or elected as a trustee of a retirement fund is viewed as an honour.

And rightly so.

Trustees are entrusted with safeguarding the retirement savings of employees, often accumulated over decades of service and intended to sustain members and their families long after employment has ended.

Yet under Namibia's new Financial Institutions and Markets Act (FIMA), trusteeship is no longer merely a governance role founded on broad fiduciary principles.

It is now a position ...