Frequently Asked Questions

(FAQs)

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  1. Who is Serenity?

Serenity Pension Administrators Ltd ("Serenity") is a private company registered in Mauritius (C148080) and licensed as a Pension Fund Administrator by the Financial Services Commission ("FSC") under the Private Pension Schemes Act 2012 and Private Pension Schemes (Administration) Rules 2014.

A pension fund administrator is authorised to administer pension schemes.

  1. What is the role of Serenity?

Serenity provides professional administration services to private pension funds operating under defined benefit ("DB"), defined contribution ("DC") and hybrid schemes which have been set up in Mauritius. Serenity can also administer foreign pension schemes with the approval of the FSC.

While Serenity can administer both Private Pension Schemes ("PPS") (with Mauritians as members) and External Pension Schemes ("EPS") (with foreigners as members), its exclusivity is the administration of EPS.

  1. What are the main duties of Serenity?

Collection of contributions

Preparation and maintenance of membership records with monthly updates of fund values, salaries and membership movements

Arranging for transfer of contributions to the scheme’s custodian and to the persons appointed for managing or investing the assets of the scheme

Arranging for payment of insurance premiums, where applicable

Issuing annual individual benefit statements to members of the scheme

Issuing statements to early leavers of the scheme

Calculating and arranging for payment of pension benefits

Preparing annual accounts for the scheme

  1. What is an EPS?

An EPS is a scheme whether or not sponsored by one or more employers. The EPS:

:

is regulated in Mauritius with the primary objective of providing pension benefits to employees; and

holds a Global Business Category 1 Licence.

  1. How can members keep track of their investments?

Serenity will issue benefit statements to members on an annual basis.

Contributors equally can track the progress of their investments online. Each member or sponsoring employer is provided with a unique username and password to access their accounts online.

  1. When can members access their money?

Upon retirement or upon specific circumstances as identified in the constitutive documents of the Scheme.

  1. What is the retirement age?

That is entirely dependent on each scheme'srules. The usual retirement age in Mauritius for those born after August 1953 is 65 years.

  1. How safe are my funds after contribution?

Savings will not be affected as the pension scheme'scustodian keeps the funds.

Moreover, pension funds are safely and closely monitored as they are invested in a diversified portfolio of investments including Government securities, stocks and real estate and based on the risk appetite of the members of defined contribution schemes.

  1. Who can I complain to if I am not satisfied?

Serenity has a regulatory obligation to implement and maintain a well-documented complaints procedure.

You can contact us through any of our contact channels such as email, phone or fax line.

  1. Can I change my personal details anytime?

Our administration software allows members to access their accounts on our user-friendly website anytime and anywhere to change their personal details, subject to submission of appropriate supporting documents.

  1. How do I become a member of a scheme administeredby Serenity?

You can download and submit a membership form with all due diligence documents on our website or by email.

A unique membership code will be issued to you as evidence upon acceptance of your membership.

Once your membership has been approved, you shall receive a welcome pack to guide you through the scheme under which you have been registered as member.

  1. Should I get financial advice?

Serenity recommends that you speak with a financial adviser for independent advice.

We will be pleased to welcome you on-board or answer any questions you may have.

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