What is the purpose of the Fund?

• To provide Members with retirement benefits at retirement after age 55 or on earlier permanent incapacity
• To provide Dependants and/or Beneficiaries with benefits in the event of your death before retirement.

What is the role of the Trustees?

While the Fund is sponsored by Botswana Life, the Fund is a separate legal entity separately governed by the Board of Trustees. One of the Trustees is also appointed as an independent trustee and may not be employed by the sponsor. The Trustees must protect the interests of Members at all times and act with impartiality, due care, diligence and good faith. Trustees are required by law to apply the Rules of the Fund, appoint a principal officer, communicate with Members and ensure proper administration. The Trustees are required to put governance procedures in place to fulfil their responsibilities to Members.

What does the Fund do with your contribution?

The Fund invests your contributions into the policy and Portfolio you have selected. If no selection is made, a default Portfolio is automatically selected. The policies are owned by the Fund and you have no direct right to the policies. The Portfolios and assets in them are specific investments held by Botswana Life for the policies issued to the Fund.

How does the Fund invest your contribution?

The Trustees have adopted a default life stage investment model for the Fund. This simply means that each Member of the Fund is invested in an investment portfolio based on their age and the number of years to normal retirement, between the age of 55 and 70. The following table shows how Members would move to the various investment portfolios within the life stage model as they get older.

Click link to download fullMembership Guide document.