The United Mutual Superannuation Fund (UMSF), established in July 1985, is the first umbrella fund pioneered by MUA Pension.
The main objective was to establish an affordable corporate pension scheme for SMEs.
As a multi-employer fund, this Scheme links small and medium-sized companies together in a common pension fund to provide retirement benefits for their employees.
The fund aims to be transparent and flexible. Annual General Meetings are held to present and validate the accounts, fact sheets and newsletters are made available with latest updates and performance figures.
Main Characteristics of UMSF:
- A Self-Administered multi-employer pension fund managed by SMEs for SMEs
- A scheme registered as an Association under the repealed Employees Superannuation Fund Act and licenced by the Financial Services Commission of Mauritius as a Private Pension Scheme
- Little involvement is required on behalf of the employer
- A completely independent governing body
- One representative of the company may apply to become a member of the governing body
- Tax relief on employer’s contributions
- A separate dedicated fund for pre-pensioners with a more secured and conservative investment approach
- An annual external audit of the scheme, with a yearly appointment of auditors
MUA Pension acts as Pension Scheme Administrator, Investment Advisor and Actuarial Services provider for the United Mutual Superannuation Fund.
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