Namibia Financial Institutions Supervisory Authority's (NAMFISA) provident fund has informed its members that it will be of no effect to inform the employees of changes that would possibly become law with the promulgation of the Financial Institutions and Markets Act (FIMA). The new regulations contained in the over 400-page document are still under consideration and have not yet been gazetted, says the board of Trustees. The Board of Trustees of the Fund says it will consult members where necessary on all important changes to the fund's rules. Consultations will be held once sufficient progress has been made with the Financial Institutions and Markets Act (FIMA) reform project is on stream, as the regulation requiring members to save 75% of their pension until retirement age, is still in a draft form. It, however, said that the fund’s FIMA regulatory reform project commenced in January already and that its own governance best practice principles will be applied to the project to ensure an acceptable and reasonable transition to compliance. The trustee encouraged members to attend and participate in the annual member information sessions usually scheduled for June/July. It said that its responsibility is to ensure that members grow their pension savings to have an income upon retirement.