ABOUT THE DEBSWANA PENSION FUND SECRETARIAT
The Debswana Pension Fund (DPF) is a defined contribution Pension Fund established in 1984 as a trust through a joint initiative between, De Beers Botswana Mining Company (now Debswana), Anglo American Corporation Botswana (Pty) Ltd and De Beers Prospecting Botswana (Pty) Ltd. The primary purpose of the Debswana Pension Fund is to meet future benefit obligations to members as defined by the rules of the Fund, earn positive investment returns on member funds and remain financially sound at all times
The Debswana Pension Fund (DPF) is a Defined Contribution Fund with assets valued at BWP10.083 billion and a total membership of 12468 inclusive of active, deferred and pensioner members as at 31 December 2021. The Fund is the second largest in the country by size and value with key investments in property, equity, bonds and alternatives. The DPF, which is one of the largest institutional investors in Botswana, seeks "to provide members with a pension after retirement, and to offer financial support to members' dependents upon the members' death". This is the objective of the Fund. 42% of DPF assets are invested in the local economy.
The Fund is widely viewed as a leader in the pension fund industry in Botswana due to best practices in member communications, legal and technical compliance, risk management and general governance compliance. The DPF has received international awards in recognition of effective and efficient member communication strategies
Contributing employers include Debswana Pension Fund, Debswana Diamond Company (Pty) Ltd, Diamond Trading Company Botswana (Pty) Ltd, De Beers Botswana Holding Company (Pty) Ltd, Morupule Coal Mine (Pty) Ltd and De Beers Global Sightholder Sales Botswana and Mmila Fund Administrators.
The Retirement Funds Act (2014), the Income Tax Act (1995), the Rules of the Fund and the Non-Bank Financial Institutions Regulatory Authority Act 2006, govern the Fund.
A Board of Trustees, constituted by 10 Board of Trustees members who are accountable for member investments and overall Fund sustainability. The Board of Trustees is made up of four Company appointed trustees, five member elected trustees and one independent trustee. The Chief Executive Officer heads the full time Secretariat, which manages the affairs of the DPF.