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Axis Pensions Fund

Axis Pensions Fund (the “Fund” or the “Scheme”) is a medium-to-long-term investment vehicle designed to build up substantial savings for workers toward retirement, during their working lives. The Fund helps a worker save through his/her employer, privately or both. Axis Pensions Fund has many benefits for members; the most important being the provision of retirement income security at a time when a member does not actively work for regular salary.

In order to ensure economies of scales advantages typically enjoyed by members of investment schemes with sizable Net Asset Values (NAVs), Axis Pensions Fund is open to all individuals and employers of all sizes. This means that the administrative, regulatory and others costs of managing the Scheme are borne by many scheme members, and thereby drastically reducing the aggregate cost per member. There is also an inherent relatively higher investment returns resulting from stronger negotiating powers of Fund Managers as Managers take sizable investment positions in securities on behalf of members. Ease of building up liquidity to process redemption requests from members is another significant economies of scales advantage to members of Axis Pensions Fund. Employers are encouraged to enroll their employees onto Axis Pensions Fund and use employer contributions, on behalf of employees, as employee retention tools. This is because as everyone likes to work for an employer with the interest of its human resources – employees – at heart. An employer who enrolls its employees onto a retirement scheme such as the Axis Pensions Fund is an employer who cares about employees.

Axis Pensions Fund is run under a Trust Deed by a five-member Board of Trustees representing various interests, including scheme members and participating employers. Axis Pensions Ltd is the Scheme Sponsor and Administrator. The day-to-day investment activities of the Fund are undertaken by Fund Managers who have been licensed by the Capital Market Authority (CMA) and registered by the National Bank of Rwanda (BNR). Assets of Axis Pensions Fund are held in custody on behalf of members by a BNR-regulated commercial bank. All services providers are appointed by the Board of Trustees. The Board of Trustees is supervised by BNR.

Members of Axis Pensions Fund have online access to their benefit statements 24/7. Scheme members also receive Quarterly Fund Fact Sheets - at the end of each quarter - and Annual Reports from the Scheme Administrator. Trustees have insured the Scheme’s assets with professional negligence and directors’ liability insurance policies designed to insulate scheme members from genuine administration errors.

Axis Pensions Fund is managed under strict investment guidelines set and supervised by BNR. Whilst, as a Defined Contribution Scheme, Axis Pensions Fund does not guarantee specific returns at any point in time, the table below gives a fair idea of projected returns on investment, with certain key assumptions:

Nominal Projections (Average interest rate of 10% p.a and constant contributions and no inflation assumed)
Years RWF 15,000.00 RWF 30,000.00 RWF 45,000.00 RWF 60,000.00 RWF 100,000.00
5 1,161,556 2,323,112 3,484,668 4,646,224 7,743,707
10 3,072,675 6,145,349 9,218,024 12,290,699 20,484,498
15 6,217,055 12,434,110 18,651,166 24,868,221 41,447,035
20 11,390,533 22,781,065 34,171,598 45,562,130 75,936,884
25 19,902,501 39,805,002 59,707,503 79,610,004 132,683,340
30 33,907,319 67,814,638 101,721,957 135,629,275 226,048,792
35 56,949,571 113,899,142 170,848,712 227,798,283 379,663,805
40 94,861,194 189,722,387 284,583,581 379,444,775 632,407,958


Inflation-Adjusted Projections (Average interest rate of 10% p.a and constant contributions and 5% inflation assumed)
Years RWF 15,000.00 RWF 30,000.00 RWF 45,000.00 RWF 60,000.00 RWF 100,000.00
5 1,020,091 2,040,182 3,060,274 4,080,365 6,800,608
10 2,329,234 4,658,468 6,987,703 9,316,937 15,528,228
15 4,009,334 8,018,668 12,028,002 16,037,337 26,728,894
20 6,165,505 12,331,010 18,496,515 24,662,020 41,103,367
25 8,932,646 17,865,291 26,797,937 35,730,583 59,550,971
30 12,483,880 24,967,759 37,451,639 49,935,518 83,225,864
35 17,041,386 34,082,773 51,124,159 68,165,546 113,609,243
40 22,890,302 45,780,605 68,670,907 91,561,209 152,602,016

Members and/or prospective members may contact Axis Pensions Ltd for further enquiries on this scheme.
















Axis Pensions Ltd (APL) is a limited liability company formed to provide Pension administration and its allied services due to the new pension legislation and ongoing pension reform in Rwanda.