Pension Fund Products

In today's world people often move between jobs and sustained saving during one's working lifetime is the only way to secure financial wellbeing. The preservation of retirement benefits from a previous employer should be a first priority; accessing any retirement benefit in cash during one's working lifetime should be a last resort.

There are two options available in the pension fund product range – the Defined Contribution Scheme (DC) and the Defined Benefit Scheme (DB) . These can be insured or self-administered.

Group life cover can be incorporated in the products below or can be provided separately.

Defined Contribution Schemes (DC)

  • Member and Employer contribution rates are fixed as a percentage of salary.
  • Accumulated contributions are increased with interest to date of retirement.
  • Benefit funded by accumulated credit.

Defined Benefit Schemes (DB)

  • Member contributions are fixed / Employer contributions fluctuate.
  • Actuarial valuations mandatory once every 3 years.
  • Benefit is based on salary towards retirement, pensionable service and predetermined accrual rate (e.g. 2%).
  • Allows for the incorporation of spouses and children's benefits.
  • Not recommended in inflationary environments.

For more information on the Pension Fund Products please visit your nearest Old Mutual branch, call us on +265 (0) 1 820 677, send us an email or speak to your sales agent.