Regulatory Alerts2025-04-15
Licensing Guidelines for Administrator of Pension Funds and Pension Services Company
The Reserve Bank of Malawi’s Pension and Insurance Supervision Department has issued licensing guidelines requiring applicants to demonstrate robust ICT platforms, sound governance, financial strength, and statutory compliance to operate as either a pension fund administrator or a pension services company. The framework mandates a structured four-part application covering general information, business and financial plans, governance standards, and certification, alongside rigorous due diligence, capital adequacy proofs, and fit-and-proper person assessments. Successful applicants must secure Registrar approval and pass an onsite pre-commencement verification of their operational readiness before officially commencing licensed activities in Malawi.