We are Superfund
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.
Discover Who we are?
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.
Rakesh Rajcoomar
President
Business Mauritius
Daniel Chan Chong
Vice President
FGY SERVICES LTD
Naveena Dhanoopa
Secretary
GENERAL CONSTRUCTION CO.LTD
Valérie Tranquille
Treasurer
Hanishta Camadoo
Vice Treasurer
Reinsurance Solutions LTD
Salim Albeerdy
Member
Dominique A. Béchard
Member
Ekium Amio Ltd
Dhirujsing D. Ramluggun
Member
Business Mauritius
The administration of the Fund has been entrusted to Swan Pensions Ltd which is a fully owned subsidiary of Swan Group.
Swan Pensions Ltd specialises in the provision of a comprehensive range of services for self-administered pension funds. These comprise employee benefits consulting, the setting up of pension funds including drafting up of the rules and on-going administration.
Swan Pensions Ltd currently manage 119 schemes.
Swan Pensions Ltd was the first company to be licensed and regulated by the Financial Services Commission as a “Pension Administrator”.
The investment management of the Fund has been assigned to the Fund Manager, Ekada Capital (now Strategia Wealth Managers Ltd), which specialises in asset and wealth management. The investment objective as set by the Management Committee with the Actuary – Aon Hewitt (now Aon Solutions Ltd) – is; long term growth with moderate risk.
In 2018, the Committee appointed Swan Wealth Managers Ltd as the second Fund Manager with the objective of enhancing the returns and managing its risks. Swan Wealth Managers Ltd is a leading provider of fund management, investment and financial services.
The MCB Investment Managers Ltd (MCBIM), a fully owned subsidiary of MCB Capital Markets Ltd (‘’MCBCM’’), was appointed, in 2021, as the third Fund Manager following a tender exercise.
With the increased growth of the Fund, the Management Committee decided to select a fourth Fund Manager to entrust the asset management of the Fund. Thus, SICOM Management Ltd was appointed as the fourth Fund Manager in August 2023 following a Request for Proposal (RFP) exercise for Investment Management Services.
The actuary and investment consultancy has been entrusted to Aon Hewitt Ltd (now Aon Solutions Ltd), which provides actuarial and investment consultancy services to more than 200 clients in Mauritius and other countries with total scheme assets in excess of MUR100billion. Aon has 37 associates in Mauritius and is the leading provider of HR and employee benefit consulting and outsourcing services.
The Investment Committee members do not fully understand the world of investment and are not necessarily equipped to make investment decisions on their own and may not be cognisant with certain risk associated.
Thus, in September 2016, LCF Securities Ltd was appointed as Investment Advisor to provide the Committee with an approach that can better guide Super Fund to reach its long-term investment objectives.
The custodian of the Fund is the Mauritius Commercial Bank Ltd which is the leading bank in Mauritius and a key financial services institution in sub-Saharan Africa.
Super Fund is audited by The Firm Kemp Chatteris.
Kemp Chatteris has been selected following a Request for Proposal in 2022.
Annual Return Chart
