At Lima Consulting, we’ve spent some time guiding clients through the complexities of finance, investments, and risk management. Botswana’s pension fund industry, reshaped by the Retirement Funds Act of 2022, now stands at a pivotal moment—one we’ve closely examined through our latest survey. With enhanced governance, stricter oversight, and new anti-money laundering measures, the Act has ushered in unprecedented flexibility: a 50 percent cash-out option at retirement (up from 33 percent), and provisions to tap pension funds for mortgages or medical emergencies. But as our findings reveal, these reforms raise a pressing question: do pension funds still anchor retirement security, or are they evolving into something less certain?
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