Our regulators and government

Several Fund activities require regulatory authorisation, licensing, registration, or guidance. During the reporting period, we remained committed to fulfilling these obligations, ensuring our operations were properly authorised supervised, compliant with applicable regulations.

The Board regularly reviewed the business model's relevance, taking into account member contributions, interest returns, and performance challenges. It acknowledges the need for greater flexibility to adapt to regulatory changes. Our model remains focused on both mandatory and voluntary services, delivering a range of physical and digital products and channels to customersOur senior leaders and Board dedicate significant time to representing NSSF in engagements with regulators, policymakers, and other stakeholders. This engagement helps us understand their needs, expectations, and priorities while keeping them informed about our business developments.

Additionally, our business and control functions engage with regulators through various channels, including compliance reporting, policy recommendations, participation in industry initiatives, and responding to ad hoc requests. This interaction has strengthened our ability to ensure the safety of the pension system and demonstrates our commitment to continuous improvement in fulfilling our mandate. The MGLSD supervises social security matters, while the MoFED oversees the financial and investment aspects related to the Fund.