Regulatory Alerts2022-01-01
The Private Pension Schemes (Technical Funding Requirement) (Amendment) Rules 2022
The Financial Services Commission of Mauritius amended the technical funding requirements for private pension schemes by formally introducing and regulating smoothing reserves. The rules mandate that schemes maintaining such reserves must establish, approve, and file an investment reserve management policy detailing return allocation, reserve building, and risk appetite, while requiring annual actuarial disclosures and triennial reviews. Furthermore, the amendments clarify that sponsoring employers hold no claim on smoothing reserves and specify technical provision calculations for schemes operating both defined contribution and defined benefit sections.
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