info@psptf.mw | P.O. Box 30146, City centre, Lilongwe
Service Providers
The Fund outsources services as follows:
Pension Administration
The Pension administrator is responsible for data management and record keeping. They ensure that deductions are tallying with individual grades by making sure that there are no over/under-deductions. The Administrators also verify details when claims have been made. They also provide checks and balance on the flow of funds between the Custodian and Investment Managers. They also provide member statements to members of the Fund.
Investment Management
The investment managers act upon instruction from the Board of Trustees to invest on behalf of the Fund. They invest in equities (shares in companies), real estate (property), money market securities such as fixed deposits and Government securities or treasuries (treasury notes, treasury bills).
Actuarial Services
They advise the Fund on potential risks and assist the Fund develop policies that minimize the cost of that risk.
Custodial Services
This is where the PSPTF funds are held.
Audit Services
They are responsible for evaluating financial statements and assessing accounts for accuracy and compliance, investigating internal systems and operations and Assessing risk management approaches.
Group Life Assurance Services
Provides death-in-service cover to members of the PSPTF. The sum assured is payable on the death in service of a member for the benefit of the surviving spouse and children or the appointed beneficiaries.