18 Dec 2022

Botswana Public Officers Pension Fund (BPOPF) has introduced the moderate growth portfolio to safeguard benefits for members who are nearing retirement, while also maintaining good returns.

BPOPF chief investment officer, Mr Tshephang Loeto told the media during a recent chief executive officer’s breakfast session that the product, which had been approved by the board, was targeted for rollout in October 2023.

He said members were eligible to switch to the portfolio at the age 40, stressing that it was for those wanting to move out of the aggressive portfolio, but still required more potential growth from their investments.

Mr Loeto said those eligible were encouraged to only make the switch into the Moderate Growth Portfolio five years before their planned retirement date.

He said if one was planning to retire at age 60, then they were encouraged to opt into the Moderate Growth Portfolio the year they turn 55, adding however that the Pre-Retirement Portfolio was still an option for qualifying members.

“As you approach eligible age for retirement, you are provided with an option to switch into a Moderate Growth Portfolio or the Pre-Retirement Portfolio,” he explained.

 Mr Loeto also said it was the trustees’ ‘best advice’ for members to switch into the Pre-Retirement Portfolio three years before they plan to retire.

Meanwhile, the Director of Benefits Administration, Ms Mercy Robinson said BPOPF had started mobile offices to take services closer to members, especially those outside administrative service centres.

She said notices were placed on social media platforms to sensitise members of the visit schedules, adding that the BPOPF was in the process of creating an App for members.

Ms Robinson said members would be able to log onto the App, which was expected to be launched by end of March 2023, to access their pension records (checking fund credit, personal details, contributions, benefit statements, among others. ENDs