Overview
Our Vision:
To create a community of happy pensioners celebrating life.
Our Mission:
We help our members prepare early for a rewarding retirement by providing sustainable, long-term benefits in a cost-effective manner.
Who are we?
Super Fund was set up in November 1999 under the Employees Superannuation Fund Act and the Income Tax Act. The Fund is now licensed by the Financial Services Commission under the Private Pension Schemes Act 2012.
Super Fund provides retirement, withdrawal, death and disability benefits to its members. It is an umbrella pension fund open to employees of enterprises which are members of Business Mauritius. It is targeted at enterprises wanting to pool together their contributions into a common fund, in order to benefit from better investment opportunities and economies of scale. Super Fund also acts as a promoter by encouraging employers to fulfil their social responsibility in order to enhance employees’ welfare. As it is a not-for-profit organisation, any surplus is reinvested back into members’ accounts and directly enhances the value of their fund.
Super Fund is of the “Defined Contribution (DC)” type pension scheme, which implies that the employer’s contribution is calculated as a percentage of salaries of its own choosing and known at the outset. Employees willing to top up are free to do so by making personal contributions to the Fund. In fact, they can contribute any percentage of their salaries.
Transparency and Professionalism
Super Fund is managed by a Management Committee who is responsible for the strategy and policy-making of the Fund. It is comprised of representatives of both employers and employees elected at the annual general meeting. This ensures that both interested parties play an active role in decision-making for the running of the fund. The Management Committee is totally independent and its sole objective is to act in the best interest of its members.
Unlike under an insured arrangement, whereby all the functions pertaining to a pension scheme such as administration, investment, actuarial services and risk benefits provision, are performed by the insurance company, these services have been unbundled and entrusted to professionals. All our service providers are leaders in their own fields and have the appropriate expertise and experience. They all report and are accountable to the Management Committee, which meets on a quarterly basis.
