Africa-Press – Malawi. Old Mutual has declared 11 percent bonus on its Guaranteed Fund for the year 2021 which is above inflation which averaged at 9.3% in 2021. Old Mutual announced this at a cocktail held Friday, June 11, 2022 at the Bingu International Convention Centre (BICC) in Lilongwe.
The event which brought together the company’s varying clients was as well graced by its leadership including the Group Chief Executive Officer (CEO) Edith Jiya.
Making her presentation, Jiya said the cocktail offered the company an opportunity to communicate a very important milestone that it has made in its pension flagship program, the Guaranteed Fund. She said it was refreshing to again host the event after a two year break due to the Covid 19 global pandemic which made gatherings impossible.
“The past two years have been hard, but it is in the same years that we have learnt to thrive. We have learnt that what really matters does not change, our purpose as a service provider does not change and it has always been to help our customers to thrive by helping them to achieve their lifetime financial goals “she said.
According to Jiya, Old Mutual remains committed to providing top notch customer satisfaction through adaptations beyond day-to-day operations so that the company remains relevant in the provision of service and making sure that customers enjoy sound retirement benefits.
Making his comment, Old Mutual Pension Services Company General Manager Tawonga Manda added that the Guaranteed fund was declaring a bonus above inflation , despite the tough economic environment.
Manda said this is an assurance that the Guaranteed fund is a fund that can meet the needs of customers. He said apart from declaring the 11 percent bonus, over the years the fund has grown where the company is now managing assets worth over MK396 billion.
According to Manda, the guaranteed fund should be seen as an investment vehicle that is able to give a diversified portfolio where investments are done, providing security, stability and more importantly providing return that is above inflation but also competitive.
“If you look back and see the three-year average return or five-year average return, you will find that the return was above inflation. All this point to the fact that guaranteed fund is a fund that is able to meet the needs of its customers” he said. Manda said the fund is made up of contributions from members and it also comprises of the bonuses that are declared.
During the event Old Mutual (Malawi) Ltd also took advantage to announce the new products that the company is launching including the Total and permanent disability policy where an individual will be paid up to MK100 million or up to a year salary, Critical illness policy where an individual will as well be paid up to MK100 million or up to a year salary, the Chipatala scheme and the Mthunzi Funeral Policy.
The company also officially presented the Customer Service Charter to its clients reiterating its promise to keep serving with great regard to its customers.
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