- For each Participating Employer, a set of ‘Special Rules’, over and above the Fund General Rules, is registered with the FSCA.
- The Special Rules define rules specific to the participating employer, typically contribution rates, retirement age and risk benefits.
Contribution rates vary for each participating employer and can be any combination of the following:
- Member (employee) contribution only
- Company (employer) contribution only
- Member (employee) and Company (employer) contribution
Responsibilities of the Participating Employer
The Participating Employer is responsible for:
- appointing a Broker to advise on investment and risk decisions
- deducting monthly contributions from employees
- submitting a monthly payment and schedule of contributing employees to Penpro
- supporting employees with submitting documentation when joining or withdrawing from the Fund.