Magic Schedules software – Unclaimed Benefit Funds

Where a fund has been classified as an unclaimed benefit fund, the annual financial statements as set out in Annexure A of PF Circular 126, must be submitted electronically within a period of 6 months after the financial year-end of the fund.

The Magic Schedules software was modified to enable the administrator to capture the unclaimed benefits data on the prescribed format in the program provided by the FSB. The program validates that all relevant schedules are captured and scanned financial statements attached before allowing the administrator to submit the financial statements to the FSB. The program creates the text files that will be attached in an e-mail (password protected zipped file) and will automatically be send to the FSB. The file will be imported in the FSB’s server and the attachments are indexed into our workflow system under a unique case number.

Guidance on the use of the Magic Software

1. If you have not registered on the FSB Schedules system as yet, kindly send an e-mail to to be registered with a password.

2. The link to download the Magic software to submit financial statements electronically to the FSB is as follows:

ftp://ftp.fsb.co.za/public/pfa/Schedule_Setup.exe.

If you are already using the Magic Schedule Software, the latest version (version 1.7) must be downloaded.

3. On the screen "Click here to update your password", the password supplied in the registration e-mail must be entered.

4. On the screen "User view", click on the button "add" and complete the 'fund number'* and 'year end' fields and click on "add" to complete the entry or on "cancel" to erase the entry.

* ‘fund number’ - Only that part of a fund number that follows the 12/8 prefix should be typed whenever a private or underwritten fund is to be specified. The last part of the find number (/1 or /2) should also be ignored.

For instance, if a fund with number 12/8/3467/2 is to be specified; only 3467 should be typed in the relevant field.

If the fund number was specified incorrectly, it can be changed:

Select the fund, click on "modify fund" and then press "ctrl" & "F12" simultaneously, and the fund number field will be enabled.

5. Kindly ensure that the fund type (private or underwritten) is correctly selected in the “general info” schedule before any other details are captured, as the fields that are not applicable to underwritten funds are disabled if the fund type equals “underwritten”.

6. Kindly ensure that the field “unclaimed benefit fund” are selected in the “general info schedule” before any other details are captured, as the fields that are not applicable to unclaimed benefit funds are disabled if the fund type equals “unclaimed benefit fund”.

7. Complete the following schedules on the Magic software:

- General Info

- Schedule A

- Schedule E

- Schedule F

- Schedule G

- Schedule H (notes H1 – H16 (where applicable))

- Schedule IB

Kindly note that the amounts reflected in the schedules must be to the nearest Rand value.

Warning: DO NOT USE “ ; \ * ” in any field as the export program uses these characters as delimiters.

8. The programme will automatically validate the data entered and you will not be able to export the financial statements until the validation is complete.

9. The button "print errors" will give the option to print the listof errordescriptions.

10. The scanned version of the financial statements, Schedules A –F (refer to PF Circular 126) must be linked as a .pdf file (.tif file). Use the button"link PDF" to link the file.After the pdf file was linked, kindly indicate if the financial statements are signed or unsigned by selecting “yes” or “no” to the question “PDF is signed?”

Please note that the signed financial statements are still required to be submitted, as the Financial Services Board system will register the above submissions as “provisional”. Refer to note 16 for resubmissions.

11. Validated scheduleswill be indicated in green and if there is still an error it will remain red and the error description will be displayed.

12. The fund’s financial statements will not be allowed to export if all the errors were not rectified. The “recalculate button” gives you the option to recalculate the totals if any changes were made to the schedules.

13. Once the fund has passed the validationstage it can be exported to the FSB. The button "export fund" will export the fund's financial statements automatically, provided the password was entered as mentioned in step 3.

14. You will see the e-mail(exported file) sent to the FSB in your "Sent items" of your e-mail programme.

15. It will directly be imported in the FSB system andthe fund number, year-end date, fund type, Unclaimed benefit fund status and previous year figures be validated. You will receive a return e-mail from the FSB, confirming that the import was successful or why the import was rejected. Kindly note that the report will indicate an unsigned submissions as “FUND IMPORTED (UNSIGNED) SUCCESSFULLY”

16. Resubmission of unsigned financial statements: The signed financials must be linked as a .pdf file(.tif file). and the field “PDF is signed?” must be changed to “yes”. The fund’s financial statements must be re-submitted to the FSB on the Magic software.

Kindly contact Loraine de Swardt on (012) 428-8020 or with any questions or concerns in respect of the electronic submission of financial statements.