Our business model is designed to address the retirement savings needs of workers and employers in the large corporate segment, SME segment and the informal sector. Like most African countries, Rwanda has a large SME and informal market. This means master-trust schemes and personal pension schemes will be critical in extending coverage for supplementary pension schemes to the majority of workers in Rwanda.
APL brings exceptionally flexible product features to cater to the needs of employers and individual employees suitable for short-term, medium term and long-term investing. Master-trust (umbrella) schemes will fit the needs of SMEs seeking efficiently managed schemes whereas the personal pension scheme extends pension provision to self-employed and informal sector workers.
APL as scheme sponsor and administrator will have the following responsibilities:
• Holding scheme assets in trust for scheme members
• Maintenance of member contribution accounts
• Scheme record keeping functions
• Preparation of scheme financial reports
• Benefit payments
• Compliance monitoring and reporting
• Customer servicing
• Communication and information dissemination.