18 Nov 2019

Botswana Public Officers Pension Fund (BPOPF) Chief Executive Officer, Ms Boitumelo Molefe says the communication  strategy and plan  are in place to disseminate educational information to the clientele.

Speaking during stakeholders meeting in Jwaneng on November 17, she said BPOPF had embarked on a countrywide tour in an endeavor to interact with members.

She said the stakeholders meetings presented an opportunity for BPOPF and its members as well as other stakeholders to network, share ideas and experiences and created a platform for them to ask questions.

Even  though they have a feasible and diverse communication plan, she said  it was never enough as new members kept on joining.

On other issues, she said BPOPF was in the process of recovering lost assets, noting that court litigation had started.

For her part, BPOPF’s legal services manager Ms Kwenantle Otukile said there were changes in laws that affected the fund’s operations saying in 2017 Botswana enacted a law that reduced executive committee members from 21 to 11 of which five represented government, another five representing BPOPF and one was an independent specialist.

She assured BPOPF members that money deducted from their salaries every month for pension were legally protected.

She said if at retirement there was an unsettled loan either by commercial banks or employers BPOPF could pay such creditors.

She said maintenance money may also be deducted from the fund after receiving a court order demanding a certain amount to be deducted from a member.

She said during a divorce process a court order could determine how much could be given to another party who was not a member of BPOPF.

Ms Otukile shared that surviving spouse and children would benefit from the fund after death of husband or wife, pointing out that if the money could stay for a year without being claimed such money would be transferred to preservation fund as keeping such monies was expensive.

Transferring such monies would also help BPOPF to gauge financial performance as unclaimed money would portray an image that would make the fund look like it had money whereas it belongs to a claimant.

She said after death those who could prove that they were dependents of the deceased would benefit from the fund.

Investment and portfolio director of BPOPF Mr Moemedi Malindah said the fund’s assets since inception amounted to  P66 billion of which a substantial amount had been invested in six companies in Botswana.

He said BPOPF had a shareholder protection unit for ensuring an investor rights and interests are protected.

He said Hilton Hotel at Gaborone’s central business district was one of the assets of BPOPF but it did not offer discounts to BPOPF members because not all of them could have an opportunity to utilise the facility thus when members pay full amount ultimately all would benefit from the income.

Mr Malinda said they intended to take advantage of the opportunity presented by the growth of china to invest in that country.

He said transparency was critical in fund administration noting it was only in 2003 and 2009 in which they declared negative slump, adding all the years they declared positive growth.

During the question and comments, one pensioner, Mr Moatlhodi Moatlhodi urged BPOPF to involve members whenever there was need to change laws.

He appreciated the meeting saying it was an eye opener as most members left work without knowing their rights with regard to pension money.

Ms Prudence Moepi a teacher at Kgosi Mpe JSS said she believed in information sharing, noting she was hearing most of the informtion for the first time, which would benefit her in numerous ways.

She shared the same sentiments with Mr Moatlhodi that she was enlightened on different options to invest in her pension

Ms Lucia Ditlhako of Jwaneng Technical College said that member education and information outreach programme should be extended to all public officers, adding BPOPF should be doing more with regards to information sharing. Ends