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Industry Insights

Valuable insights gained across Africa

South Africa

As experts in pension fund administration, we closely monitor ongoing reforms in South Africa's well-developed pension system. Recent initiatives, such as the introduction of the two-pot system, separating savings into preservation and annuity strategies, aim to improve retirement outcomes. This approach enhances member choices and ensures financial security throughout retirees' golden years. However, challenges persist, including the significant coverage gap and the sustainability of pension provision in the face of an aging population. As dedicated professionals, we emphasise the importance of continuous efforts to promote financial literacy, expand pension coverage, and ensure sustainable pension provision for all South Africans. By collaborating with key stakeholders, we work towards creating an inclusive and resilient pension system that benefits individuals and the broader society.


Kenya's pension system has undergone significant reforms aimed at improving governance, expanding coverage, and ensuring sustainable retirement savings for its workforce. As experts in the field, we have observed the successful establishment of the Retirement Benefits Authority (RBA) as the regulatory body responsible for overseeing the pension industry. Recent developments, such as the introduction of the Individual Retirement Benefits Account (IRBA), have empowered individuals to actively participate in managing their retirement savings. Additionally, the establishment of the National Social Security Fund (NSSF) has provided a safety net for workers in the formal sector. However, challenges remain, particularly in extending coverage to workers in the informal sector. Efforts are being made to enhance financial literacy and encourage voluntary contributions to retirement savings. As experts, we emphasise the need for ongoing collaboration between stakeholders to address these challenges, strengthen governance frameworks, and ensure that Kenyan workers can enjoy a secure and dignified retirement.


Our expertise in pension fund administration allows us to provide insights into the recent developments in Namibia's pension landscape. The Financial Institutions and Market Act (FIMA) has brought significant changes to the regulatory framework governing retirement funds, insurers, and asset managers. FIMA aims to enhance compliance, risk-based supervision, and outcomes-based performance. As experts, we recognise the need for stakeholders in the Namibian pension sector to understand the implications of FIMA and prepare for its impact. Adjustments and increased compliance costs may be necessary to ensure alignment with the new regulatory requirements. Ongoing collaboration between industry players, regulators, and experts will be crucial to navigate the evolving landscape and ensure that Namibian pension funds continue to deliver optimal outcomes for members.


We have closely followed Mauritius' journey in establishing a robust and well-regulated pension system. The country has positioned itself as a regional pension hub, offering a range of pension options, including occupational schemes and voluntary contributions. Recent reforms have focused on increasing the retirement age, encouraging longer working lives, and promoting sustainable pension funding. Mauritius has leveraged technological advancements to streamline pension administration processes, ensuring efficiency and accuracy in fund management. Ongoing priorities include effective governance, regular monitoring of investment performance, and aligning pension regulations with international standards. As experts, we acknowledge Mauritius' achievements in building a sound pension system and continue to advocate for continuous improvements to meet the evolving retirement needs of individuals.


As experts in pension fund administration, we have observed significant reforms taking place in Malawi's pension system. These reforms have aimed to improve governance, enhance regulatory frameworks, and promote transparency and accountability. The introduction of defined contribution schemes has been a significant development, empowering individuals to take control of their retirement savings and make informed investment decisions. However, challenges still exist in ensuring adequate coverage and addressing the informality of the workforce. Efforts are needed to expand pension coverage to reach more workers, particularly those in the informal sector. Additionally, strengthening financial literacy programs can help individuals better understand the importance of saving for retirement and make informed choices regarding their pension contributions.


Zimbabwe has undertaken important pension fund reforms to enhance the sustainability and effectiveness of its pension system. As experts in the field, we have witnessed the consolidation of multiple pension funds into a unified system, streamlining administration and improving fund management. These reforms aim to address governance issues, promote transparency, and align regulations with international best practices. Efforts are also being made to increase financial literacy and encourage voluntary contributions, as saving for retirement remains a crucial aspect of long-term financial security. While progress has been made, ongoing efforts are needed to ensure that governance structures are robust, pension regulations are effectively enforced, and retirement savings are adequately protected.


Mozambique is undergoing notable developments in pension fund administration, and our expertise allows us to provide valuable insights. Recent reforms have focused on expanding pension coverage and introducing mandatory schemes to enhance retirement security for workers. These changes aim to address the pension needs of the formal workforce and provide them with a reliable income source during retirement. Strengthening regulatory oversight and promoting financial education are critical priorities to ensure effective enforcement and improve members' understanding of pension schemes. Additionally, efforts to enhance fund governance, including transparency and accountability, will further contribute to a robust pension system. As experts in pension fund administration, we support these reforms and emphasise the importance of continuous improvements to address the pension needs of Mozambique's workforce effectively.


As experts in pension fund administration, we have observed ongoing efforts in Eswatini to strengthen the pension system and improve retirement outcomes for individuals. The country has implemented reforms focused on enhancing governance, expanding coverage, and increasing retirement savings adequacy. These reforms aim to address challenges related to the sustainability of the pension system and the financial security of retirees. Continued collaboration between stakeholders, effective enforcement of regulations, and ongoing financial education initiatives will be essential to achieving a robust and inclusive pension system in Eswatini.