Mauritius:
Financial Services Commission Circular Letter: Guidelines For The "Conversion" Or "Shift" Of Defined Benefit Pension Schemes To Defined Contribution Pension Schemes
28 April 2021
AXIS Fiduciary Ltd
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The Financial Services Commission ("FSC") has issued a
circular letter on 23 April 2021 in relation to the new guidelines
for the "conversion" or "shift" of defined
benefit pension schemes to defined contribution pension schemes.
The objective of the guidelines is to provide for a regulatory
framework for such matters. In the circular, the FSC outlined the
meaning of "conversion" and "shift" and
explained inter alia that the guidelines would require a full
disclosure of information to their members by private pension
schemes and sponsoring employers, prior to any conversion or shift
of their schemes. The guidelines also seek to address the issues of
underfunded defined benefit schemes.
Read the circular letter HERE.
Read the guidelines HERE.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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