multi-fund-structure

MULTI-FUND STRUCTURE

The main purpose of the Multi-Fund Structure is to better reflect the age and risk profile of RSA holders in the investment of their RSA balances. This will be by sub-dividing the traditional RSA ‘Active’ Fund into four different funds, comprising Fund I, Fund II, and Fund III, while the RSA Retiree Fund will be renamed Fund IV. The differentiating factors for the funds are: (i) their overall permissible exposure to variable income instruments; and (ii) the age profile of the members.

Fund I will be the most risky, while Fund IV will be the least risky. All active contributors below 50 years would be placed in Fund II by default, while active contributors that are 50 years and above would be placed in Fund III. Placement in Fund I is by choice, and will be implemented only at the request of the contributor. An active contributor can transfer his/her retirement savings account (RSA) from one fund to another, at no cost, once in 12 months by submitting a request to his/her PFA. Any additional transfer within the same period will attract a fee, which would be deductible from the RSA balance.
 

It should be noted that all the aforementioned changes will not affect the balance in a contributor’s RSA account. Changes will only occur due to additional mandatory monthly contributions, voluntary contributions (if applicable),  as well as investment returns generated by the PFA.
 

Please, find below a summary of the four funds under the new RSA Multi-Fund Structure:



 

Note that an RSA retiree or active contributor who is 50 years and above shall not be allowed to choose Fund I.

For further clarification do not hesitate to contact us on 014485490
or Email: pensioncare@axamansard.com