Regulatory Alerts2013-01-01
Private Pension Schemes (Technical Funding Requirement) Rules 2013
The Financial Services Commission of Mauritius issued these rules to establish technical funding requirements for licensed private pension schemes, mandating regular actuarial valuations and reports. Defined benefit schemes must maintain a funding ratio of at least 100 percent (or 90 percent with compliant contribution rates), while defined contribution schemes calculate technical provisions based on member contributions, investment returns, and smoothing reserves. The regulations outline compliance procedures for managing underfunding through employer payments or approved contingency plans, specify surplus utilization limits to preserve a 105 percent funding ratio, and require governing bodies to maintain documented investment reserve management policies.