DPF does not charge any transaction fees for accepting AVCs. The usual investment management fees apply based on the investment pool selected. Normally, the investment cost per member is charged against the gross unit values/investment returns earned, with the net amount credited or debited to your account monthly, depending on investment performance.
No, you can contribute to AVC at any age as long as you are an actively employed member of the Fund.
At retirement or when you cease participation in the Fund, your employer contributions and AVC funds are merged into one account. These funds can be used for lump-sum withdrawals or to purchase an annuity/pension, depending on your exit type. Any cash withdrawals from your fund credit before retirement are subject to income tax. Pensioner annuities/ salaries are taxed based on the applicable tax deduction thresholds at the time.
If you experience financial challenges, you can discontinue your AVCs. However, we advise you to consider this decision carefully, as it could negatively impact your future retirement income. Members are encouraged to evaluate their budgets and prioritise savings before discontinuing any savings measures.
Yes, you can increase or decrease the amount of your existing AVCs at any time before any subsequent pay period, subject to the limits described above.
You can view your personal pension account information at any time through the Member Portal link on the website or by visiting the Member Relations Offices.
Currently, there is no differentiation in investment strategies between your employer contributions and AVCs. Your AVCs will be invested using the same strategy as the main fund, earning the same returns.
There is no limit to AVC contributions; however, the tax benefit applies only up to 15% of the contributions. Contributions beyond this percentage are taxable.
Yes. As an active member, you have the option of transferring your existing pensions to the DPF. The DPF has a successful investment strategy and a good investment performance record. For more information on DPF performance, please visit our website www.dpf.co.bw. To transfer your existing deferred pension funds to the DPF, send a written instruction to your current fund managers to transfer your funds, and then complete an Approved Funds Transfer Details Form from the DPF website. Forward the form to us for processing, and we will confirm the transfer.
Lump-sum AVC payments may be made from verifiable, legally obtained sources. You may make lump sum contributions as long as the source of the funds is verified and approved by the Fund, such as your employer.
You can make AVCs for as long as you are eligible. The longer you do, the better your retirement income. Members nearing retirement age are especially encouraged to do so to secure a better income during retirement.
You may start immediately. All active members of the Fund are eligible to make AVCs.