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THE MAURITIUS CIVIL SERVICE MUTUAL AID ASSOCIATION LTD.

Retirement Savings Fund (RSF)

 

 

Objective

The objective of the RSF is to enable contributors to benefit from a “Lump Sum” on retirement or on reaching the age of 60.

Membership

Membership of the fund is open to any person not having reached the age of 60.

The monthly contribution is in multiple of Rs50. Contribution can be increased or decreased at any time.

Payment of lump sum

A lump sum consisting of contributions plus interest accrued thereon is payable on

a). Retirement from employment; in the case of self-employed, on reaching the age of 60.

b). Dismissal from employment

c). Resignation from employment

d). Death before retirement.

In case of voluntary withdrawal from the scheme, only half of the amount contributed and accrued interests will be payable..


Rate of Interest

The rate of interest shall be determined by the Board each year but shall be at least 2% above the average savings rate.



The table below gives an indication of the benefits obtainable based on an interest rate of 10.60% p.a

REVISED TABLE OF BENEFITS
YEARS OF
CONTRIBUTION
Rs 50.00 Rs 200.00 Rs 500.00 Rs 1000.00
         
5
3,823
15,292
38,230
76,460
10
9,967
39,868
99,670
199,340
15
19,838
79,352
198,380
396,760
20
35,370
141,480
353,700
707,400
25
61,190
244,760
611,900
1,223,800
30
102,146
408,584
1,021,460
2,042,920


RSF Membership Application Form

© 2006