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Old Mutual declares 11% bonus on pension funds

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PUNUNGWE—The bonus is above inflation

Workers and investors whose pension funds are managed by Old Mutual Malawi have a reason to smile as the company has declared an 11 percent bonus on pension funds for 2020.

Despite a decline in the return when compared to the 12 percent and 17 percent bonuses declared in 2019 and 2018 respectively, the 2020 bonus is above inflation, currently at 8.6 percent, and the 8.2 percent return for the company registered in the year.

Speaking during a bonus declaration ceremony in Blantyre, the company’s managing director Roy Punungwe described 2020 as a tough year for business and that the company had to find ways of still staying in business.

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“The year 2021 looks to be challenging based on the experience so far but we, as Old Mutual, will continue to work so that our customers get value for the money they invest with us.

“It is comforting to learn that the Covid vaccine is here but there is also a threat of a third wave if we do not remain vigilant,” Punungwe said.

During the event, the company launched “We Guarantee Campaign” where it will be providing information about the guarantee fund to customers and potential clients.

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The fund is an investment vehicle which the company uses to mobilise pension funds they manage for investment.

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