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Get To Know Your Fund

What is an Umbrella Fund?


Umbrella funds allow many unrelated employers to participate in one legally established retirement fund, while at the same time offering them the flexibility to define their own terms of participation and risk benefits in the umbrella fund.

One advantage of an umbrella fund is that it provides an alternative for employers who do not want the fiduciary responsibility that comes with the management of their own fund, or who lack the knowledge or time to effectively act as a Trustee of a fund, as they join a fund that is already registered and approved and has an established Board of Trustees.



The Corporate Selection Suite of Umbrella Funds (CSUF) offers both pension and provident funds that are structured as defined contribution funds.  The Funds are commercial Defined Contribution Type A umbrella funds and are required to comply with all aspects of the Pension Funds Act of 1956, as amended from time to time.


The purpose of the Funds is to facilitate members' retirement savings and the prudent management of members' retirement benefits, with the aim of providing members with a reasonable income replacement at retirement. Obviously, this aim is dependent on various assumptions, such as the preservation of benefits, contribution rate, and investment time horizon.



How does your value in the Funds accumulate?


The Funds offer flexible benefit structures to all their participating employers.

The net employer contribution, i.e. employer contribution less all costs for administration, Fund management/operations, and insured benefits (if applicable), together with the full member contribution, is allocated to your Member Share of Fund.

The accumulated value of this member account, including the returns earned by the underlying investments, is payable in full in the event of resignation, retrenchment, retirement or death (after tax deduction).

Your benefit in the Funds is equal to:




The Funds are a separate legal entity. They do not belong to the employer or the administrator and they are registered with the  Financial Sector Conduct Authority, which ensures that members' rights are protected.

Membership is compulsory for all permanent staff, unless they are over the normal retirement age. You must remain a member for as long as you are contracted to your employer and meet these criteria.


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