The Retirement Benefits Authority (RBA) has issued a strict deadline, requiring all pension schemes to submit their audited financial accounts by September 30, with non-compliance leading to significant penalties.

• The directive applies to schemes whose financial year concluded on June 30.
• Failure to meet the deadline will result in penalties as per Section 34(4)(c) of the Retirement Benefits Act, 1997.
• Pension schemes also have until October 31 to pay their annual regulatory fees, with a 5 percent monthly penalty for late payments.