COIDA: Confirmation of Life

COIDA: Confirmation of Life

• 23 October 2023
• Legal and Compliance
• South African Accounting Academy

The submission of the ‘confirmation of life’ documents will serve as proof of verification of the existence of pensioners, beneficiaries and recipients.

Proof of life for South African citizens residing in South Africa, who are beneficiaries of the Fund, is performed by the Fund in cooperation with the Department of Home Affairs, and consequently, they are not requested to submit the required documentation.

Pensioners and beneficiaries who fail to submit the required documents will be suspended and terminated from the pension payroll file by 31 October 2023, with the assumption that the life status of the affected pensioners or beneficiaries is deceased.

The following information should be submitted for confirmation of life:

1. Duly completed Wac.22 form (mandatory).

2. Certified copy (within 3 months) of the valid identification documents (applicable to the pensioner, spouses and guardian) (mandatory).

3. Certified copy (within 3 months) of birth certificates (for children dependents) in the approved format (only children dependents receiving pension).

4. The Fund can still request additional information where further confirmation is necessary (e.g., where applicable the certified copies of death certificates, marriage certificates, proof of guardianship, confirmation of banking details, etc.)

The above information should be submitted to the CF via email to [email protected] with the subject line on the email ‘Confirmation of life [claim number and/or business partner number]’.

The previous requirement to submit proof of life was gazetted on 31 March 2023 – Refer to SAAA’s Technical Alert dated 14 April 2023.

Click here to download the Government Gazette Notice:

https://www.gov.za/sites/default/files/gcis_document/202310/49398gon3930.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

• The COIDA Act is yet another piece of legislation that your clients must comply with, and which you must assess compliance with.  If they don’t comply with the relevant laws and regulations, you have certain reporting obligations in terms of NOCLAR (Non-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.

• Pensioners, beneficiaries and recipients who receive a monthly pension from the Compensation Fund must submit confirmation of life by 31 October 2023, and again by 31 March 2024.

• It affects all non-South African citizens residing in and outside of South Africa as well as all South African citizens residing outside South Africa.

• You also need to be aware of updates published by controlling bodies, such as the Compensation Fund and Compensation Commission as well as the Department of Labour.

Relevance to Your Clients:

• Pensioners, beneficiaries and recipients who receive a monthly pension from the Compensation Fund must submit confirmation of life by 31 October 2023, and again by 31 March 2024. 

• It affects all non-South African citizens residing in and outside of South Africa as well as all South African citizens residing outside South Africa.

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