BPOPF NEWSLETTER 280617_0

August Issue - 2017

Driving Member Value

Tollfree Number: 0800 600 177
Email: [email protected]
Website: www.bpopf.co.bw

The

OF BPOPF

11See story on

page

Gaborone Head office FRANCISTOWN KANG MAUN
Botswana Public Officers Private Bag 0053, Private Bag 003, Kang, Plot 2621/ 2622, Old Mall,
Pension Fund, Francistown, Botswana,
Private Bag 00195, Plot 469/70, Unit 10, Botswana, Plot 659, Private Bag 60, Maun,
Gaborone, Botswana, Mangole aa leswe Unit 3 Ga-Monyemane Tel: +267 686 0597,
Tel: +276 391 1445/ Building, Blue Jacket Ward, T +267 651 7340, F: +267 686 0532
361 7000/ 315 8422 Street, Tel: +267 241 2562
Fax: +276 391 2066 Fax: +267 241 2583 F +267 651 7005

fa o Ka
bona SenGWe,

bUa SenGWe

Fa o na le dipelaelo ka tsamaiso e e sokameng kana borukutlhi, re
itsise re tle re kgone go sireletsa tirelo e e maleba mo BPOPF.

Whistle blowing facility
Ikgolagange le rona re lwantshe bonweenwee mmogo

mo dinomorong tse di latelang kana o kwalele ko:

Supported by: BTC/Be-mobile: 0800 600 644
Orange: 1144 | Mascom: 71119763
www.t s.com | email: bpopf@t s.com Driving Member Value

AUGUST 2017 3

TABLE OF CONTENTS

05 06

DATA CLEANSING/ UNVEILING OF THE
MISSING CONTRIBUTION 5 YEAR STRATEGY

08

09 The ImPORTANCE OF 11
MEMBER EDUCATION
HILTON THE REBRANDING
PROJECT TEAM 10 OF BPOPF
HOSTS MEDIA TOuR
TAX RETURNS AND 14
THEIR IMPLICATIONS
FOR YOUR PENSION Motivational books
read by top achievers
12

5 WAYS TO HAVE
ENERGIZED MORNINGS

4 PEELETSO NEWSLETTER

Welcome to another
exciting edition
of Peeletso. I am

particularly pleased
with this issue as we
present the new face

of BPOPF.

Bedu Tlhabologang As recommended in the One of our key initiatives is the
Editor workshops and presentations we
brand survey, the Fund host througout the year.
DRIVING MEMBER VALUE The workshops give us an
has rebranded. Our opportunity to engage face to
face with our members, and we
refreshed brand aligns encourange you to attend such
workshops and learn about your
the new organisational Fund and how we can enhance your
experience.
objectives with where the
Data clean up or missing
Fund wants to go, and we contributions and tax are also
discussed in how they can impact
explain the elements that your credit when you leave service.

inspired its conception on We would appreciate your
suggestions on the articles you
page 10. We hope you will would like to feature in our
upcoming editions. Send us an
embrace it as a symbol of email at [email protected] to
give us feedback, and to have an
progression. opportunity to contribute to the
newsletter.
In this edition, we highlight the
importance of informing our
members about our services. We
have come up with different ways of
sharing information with you such
as through our digital platforms
that include social media and the
website.

AUGUST 2017 5

Data Cleansing /
Missing Contribution

red correctly to avoid
ake sure
prthat your data is cap claim during retirement or
ocessing of your
tu benefits/
p
M delay in the service.
withdrawal
from We appeal to our members that

it is enrolling on a radical data cleansing cam aign.

Personal details can have Members employed as permanent 2. Advice to the Fund members
an impact on the member’s and pensionable before the Annual benefit statement
fund credit, therefore you are inception of BPOPF qualify for containing personal details
encouraged to constantly update transfer value. If everything is in and financials is issued to the
your personal details as and order then the Fund calculates the member every year. You are
when there is change. Clean data for withdrawing members or 1/3 advised to thoroughly check
soothes the processing of claims for retiring members. The file is your details should there be
and leads to on-time payment of then sent to BURS for tax clearance something that needs to be
the claim as per the Fund’s service and back to BPOPF for payment. corrected. It should be done as
standards. Nonetheless, if there are some early as possible to avoid any
missing contributions the file will delay when leaving service.
Documents that should be included not proceed to the next stage.
are: correctly completed notification You are advised to visit BPOPF
form, Tax directive, copy of ID, 1. Missing Contributions offices to check if you have any
liability schedule, confirmation Missing contribution is when missing contributions so that action
of employment/ casualty return, there is a gap in the member’s can be taken while still on service
banking details, and salary card/ contributions schedule. There and be corrected.
contribution schedule. Failure to should be a clear explanation
submit one of the documents will or a written document from
result in BPOPF having to call the the employer with regard to
employer/employee requesting for those missing contributions.
the missing document/s. The latter One of the compulsory
is one of main causes of delay on documents in the file is salary
payment of claims. card/ contribution schedule.

6 PEELETSO NEWSLETTER

U N V E I YLEI ANRGSTORFATTEHGYETowards the end MISSION

of year November “We secure and grow
2016 the Fund member funds in a
revealed its 5-year sustainable manner
strategy that will enabling them a dignified
guide priorities and
focus of the fund post career life”

5 from 2017 until 2022. VISION

In developing this strategy the fund “To be a trusted industry
assessed its current returns, issues leader in the provision of
and ambitions. We revised the
Mission, Vision and Values to better retirement benefits”
capture our essence. The purpose of
this development was to show in a
fresh way how the fund aspires to
be described and characterized.

The new mission statement of VALUES
the fund reflects the core purpose
of why the fund exists, who the Integrity
fund serves and the growth path Accountability
the fund is aspiring to take, and Customer Focus
with this in mind the strategy
development realized the following Botho
Mission, Vision and Values;

DRIVING MEMBER VALUE

AUGUST 2017 7

UR
STRATEGIC GOALS

With the strategy underway,
the fund is committed to moving
energetically forward.

The following main goals are set
for this 5 year period.

By 2022, the BPOPF will have;

1. Grown Assets Under 2. Reduced Cost per Member to We thank you, our
Management (AUM) to BWP480 per Annum members, and aim to
concentrate on reaching
BWP90 billion This goal excludes costs these goals guided by a
associated with Asset strong commitment to
The assets currently Managers’ fees. The current deliver the best value to
under management sit at cost per member sits at an you and fulfill our mandate
approximately BWP56 billion average amount of BWP696 to a high standard.
and are projected to be BWP per annum. Achieving this
59 billion by March 2017. If the target would involve stripping
fund is to achieve its strategic out the equivalent of P1.4m
goal of having AUM of BWP90 worth of costs in the business.
billion by March 2022, this
implies a compounded annual
growth of 7%.

8 PEELETSO NEWSLETTER

mportance Of

MEMBER EDUCATION

In today’s world, financial 1. Check and update
literacy has become the details to ensure that
cornerstone of survival benefit statements are
for most companies in the correct, thus improving
financial industry. This overall data integrity.
is why it is important
for the Fund to engage 2. Create a solid
in vigorous member foundation of trust
education through various with authorities and
campaigns, to inform the general population.
members about pension
benefits, retirement and Throughout the
general processes of the year, the Fund will
Fund. continuously engage
its members and
Member education is best described stakeholders to
as initiatives that provide relevant addres various social,
information to increase the level of moral and industry
awareness and understanding about challenges. This
products and services. Our member will help us create
education covers various options new ways of driving
available to members regarding member value.
decisions they need to make about
their retirement. It is carried out
through different media such as
television, radio, newspaper articles,
member booklets, newsletters,
trustee reports and presentations.
It is crucial and vital for members
comply, as we are able to:

DRIVING MEMBER VALUE

AUGUST 2017 9

DEVELOPMENT
PROJECT TEAM

HOSTS MEDIA TOUR

On the 14th of March, Botswana
Public Officers Pension Fund (BPOPF)
took journalists on an exciting tour
of the developing Hilton Hotel at a
briefing held at Mowana Mews.

Boitumelo Molefe, BPOPF CEO

The project, which is located at the The journalists were given an
Central Business District (CBD), is exclusive viewing of the mixed use
currently in the final phases of being development site. The development
transitioned to property manager, includes a 148 room Hilton Hotel
Messidor Investments. which will offer a leisure hotel and
a commercial hotel tailored for
At the briefing our CEO, Boitumelo business travellers. Journalists had
Molefe, told the gathered media that the opportunity to view the standard
the project is on schedule despite a mock-up hotel room.
number of challenges such as the
rains that had fallen earlier this Project manager Harry Fleetwood-
year. She said, “Messidor will be Bird mentioned that the project
facilitating the development going is in line with Hilton brand
forward effective 31st of May, and standards, and the team has
we are pleased with the progress. ensured that every stage of the
Currently, this project has employed project is completed as per Hilton
over 300 Batswana which is aligned requirements.
with our citizen empowerment
mandate, and we are confident that The hotel is expected to be open
the hotel will be unveiled within the for business early 2018.
scheduled time.”

10 PEELETSO NEWSLETTER

Tax returns and

their implication for
your Pension

Did you know that What is Retirement? Additional Voluntary
payment of your benefits Retirement is when you leave Contribution’s (AVC) impact on
can be delayed because service after attaining the tax
you did not submit tax minimum retirement age of 45 Additional Voluntary
returns? years. Such a member receives Contribution (AVC) is the
one third of their pension as a supplementary contribution that
Do you also know that tax free lump sum. Even though a member can volunteer to give,
increasing your monthly the one third is not taxed, your in addition to the compulsory
pension contributions can benefits have to be cleared for 5%. It can be terminated any
reduce your tax? tax at BURS before getting time. You can increase your
your lump sum. contributions up to 10% and
make a total contribution of
Member Withdrawal 15% every month.
Withdrawal refers to a
member who leaves work The main benefit of making
before reaching the minimum AVC is that it further reduces
retirement age of 45 years. If your tax. If you increase
you are declared redundant or your contribution, the AVC is
dismissed before this age, then deducted before the salary is
you are withdrawing from the taxed. This means when the
Fund. The member is entitled net salary reduces, the tax will
to 25% of what they have also reduce.
accumulated in the Fund. This
portion is taxed unlike the one FACT!
third retirement benefits.
When you make an
Implications of Tax additional contribution, you
The implications of tax are
the same as of retirement. increase benefits, hence,
If you do not submit the Tax when you leave service,
Returns, BURS is permitted by you are paid an enhanced
the Income Tax Act to withhold
your file until you submit the package.
returns. The Fund will then
inform you to contact BURS to
settle the issue.

DRIVING MEMBER VALUE

The AUGUST 2017 11

OF BPOPF

As the Greek In 2015 BPOPF conducted Rebranding is bigger than
philosopher Heraclitus of a Customer Satisfaction change of logo, colours
Ephesus stated, change is Survey and Brand Audit as and tagline.
the only constant in life. a way of getting feedback
This essentially means from the stakeholders It is a promise, a new
change is inevitable. regarding services offered experience that the Fund
and the visibility and commits to provide to
Everything has to undergo some sort of feel of the brand. The members and other
transformation, at some point. This even results of the survey stakeholders. It includes
applies to corporate entities. The environment indicated that majority change in organisational
in which we operate changes as a result of of the stakeholders felt objectives as evidenced by
a number of factors such as technological the BPOPF logo was the new vision, mission
advancement or change in policies. This forces outdated and needed to and values. The new brand
organisations to undergo metamorphosis in be refreshed. In addition, puts more emphasis on
order to remain relevant to the changing needs the Fund has to align its partnership/teamwork,
of the audience or stakeholders, hence the brand to the new strategic protection, growth and
rebranding by BPOPF. direction it has taken. security.

The new brand is a
promise that your pension
benefits are secure, and
we will continue to come
up with the means to
ensure that it keeps on
growing.

Driving Member Value

12 PEELETSO NEWSLETTER

Wenayesrtoghiazveed

5Mornings
There’s no doubt that we all want to begin each day with energy
and intention. But sometimes, it’s hard enough to just get out
of bed and do simple tasks. For energized mornings, try these
5 ways to help you have a fresher, more genuine morning, and
head into your day inspired and fully awake.

Start The Day With a 2
Positive Mindset
Get Exercising
Usually, how a day goes is
influenced by how we feel Exercise on most days.
when we wake up. Instead of According to MayoClinic.com,
complaining about what you regular physical activity builds
didn’t get done the previous muscle strength and increases
day, be thankful for the time your endurance. Exercise also
you have been granted to do encourages your heart and
it. Say encouraging words lungs to work efficiently. Go for
to yourself like ‘this will be a brisk morning jog, take your
a great day’ and ‘my plans dog for a walk or practice yoga
will go smoothly’. Also, try to poses at home for an energy
boost.
1have fun when doing everyday
DRIVING MEMBER VALUE
tasks.

Sleep Well 4 AUGUST 2017 13

Get plenty of quality, restful A healthy breakfast Hydrate
sleep. Aim for at least seven Goes A Long Way
or eight hours, so if you get Hydrating your body first thing
up at six o’clock, you’ll need to Eat a healthy breakfast that in the morning supports these
head to bed between 10 and includes carbohydrates, lean processes, which gives you
11 o’clock the night before to protein and fiber. These the energy to get going. As a
reach this goal. Make your room nutrients fuel your body so bonus, drinking plenty of water
as comfortable as possible with you have the energy you need throughout the day encourages
dim lighting, soft bedding and a to get going. Try a scrambled the production of serotonin,
comfortable temperature. egg with whole-wheat toast a chemical in your brain that
and a piece of fruit or plain helps regulate sleep and mood.
3 low-fat yogurt with whole- A good night’s rest can promote
grain granola and fruit. a better life

5

14 PEELETSO NEWSLETTER

MreaodtibvayttioopnaalcbhoieovkesrsPeople usually say, ‘you are what you eat’, and the same can

be found true for the books one reads or has on their shelves.

5 From corporate powerhouses to aspiring leaders, here are
some of the inspirational books that keep the world’s leaders
on their toes and constantly innovating.
1 ORIGINALS
Subtitle: Why It’s Worth Reading:
How Non- Most motivational books (indeed,
Conformists Move several on this list) recommend
the World going “all out” to fulfill your dreams.
Author: The book takes a more nuanced
Adam Grant approach, suggesting that you can be
more innovative and creative if you
maintain a sense of balance.

2 GRIT Why It’s Worth Reading:
Subtitle: Conventional business wisdom
The Power of (especially in hiring) is that your
Passion and company will become more successful
Perseverance if you hire the “smartest guys in the
Author: room.”
Angela Duckworth
This book explains why such teams
often crash and burn, and why teams
of people who have the determination
to succeed (but less natural talent) are
almost always more successful.

DRIVING MEMBER VALUE

AUGUST 2017 15

3 THE CODE Why It’s Worth Reading:
OF THE While this book (like many in the
EXTRAORDINARY genre) is a little heavy on the “look
MIND how successful I am” personal
Subtitle: experiences, it contains several
10 Unconventional concepts that are definitely worth
Laws to Redefine Your learning. In particular, I liked the idea
Life and Succeed On of “becoming unf**kablewith,” which
Your Own Terms the author defines as being “ so rock
Author: solid in your own self that judgments
Vishen Lakhiani from others or fear of loss no longer
affect you.” Great stuff.

4 BE OBSESSED Why it’s worth reading:
OR BE AVERAGE While technically this is a sales and
Author: marketing book, it’s got so much
Grant Cardone positive energy that it’s impossible to
read it with getting energized!

5 SMARTER Why It’s Worth Reading:
FASTER BETTER Duhigg is probably the best of the
Subtitle: contemporary writers on productivity.
The Secrets of Being He considers matters deeply, expresses
Productive in Life himself in simple prose, and avoids
and Business the clichés endemic to the genre.

Author:
Charles Duhigg

IT’S TIME FOR A NEW
PATH TO EXCELLENCE

DRIVING MEMBER VALUE

Botswana Public Officers Pension Fund (BPOPF) has served Batswana for over 16 years as
a ‘Defined Contribution Pension Scheme’ born out of the Botswana government’s historic
decision to review and replace the ‘Defined Benefit Pension Scheme’ that existed up to 2001.

This inspired move has to-date resulted in a robust our effectiveness, and when it matters, have the
pension fund valued at over a quarter of the responsibility and courage to re-invent ourselves.

country’s GDP, with the proud mandate to secure Behold the brand new face of our revitalized
dignified retirement for Botswana’s public officers. commitment to our members and stakeholders.

As the world changes and the demands of our DRIVING MEMBER VALUE
members and stakeholders grow in both substance

and complexity, we must continuously review

UNPACKING THE LOGO ELEMENTS:

SECURITY WEALTH VISION / FOCUS
/ SHELTER /LIFE

PARTNERSHIP /
NURTURING / PROTECTION

GROWTH / PROGRESS SUPPORT
/ MATURITY / PEACE
/ REST

CONTRIBUTION
/TEAMWORK

INTEGRITY / STABLITY
/ ROOTED IN BOTHO

DRIVING MEMBER VALUE Website: www.bpopf.co.bw

Email: [email protected]