One Life Partners Provident Fund
One life Partners Provident Fund enables medium to large sized employers to benefit by cost effectively outsourcing the administration, investment and general management of their pension funds. It is targeted to employers on the island who no longer want to deal with the burden of today’s regulatory compliance but who also want to offer their members a modern, cost efficient, professionally managed solution. The Fund offers a choice of globally diversified investment strategies that will cater to the different risk profiles of its members meeting their current and future needs.
The Fund is managed professionally by One Plus Capital ltd licensed by CySEC to operate as a Cyprus Investment Firm (Licence No 111/10). One Plus Capital ltd is licensed to carry out investment advisory, portfolio management, custody, forex, corporate finance and brokerage services. We aim to deliver a solution to cater the needs of both employers and employees whilst ensuring their provident fund is managed in the most cost effective and professional manner achieving long term objectives and returns.
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Our group, given its long standing experience in the field, has progressed with the establishment of a new defined contribution provident fund to cater for our clients’ requirements. One Life Partners (OLP) Provident Fund is a horizontal, multiemployer provident fund available to employers and employees. OLP Provident Fund caters especially for employees of the private sector, as a vast majority of them remain without a provident fund, whilst the majority of the existing funds are small and place an increased administrative and fiduciary burden on the employers.
Benefits
- Defined contribution Provident Fund
- Open to employees in the private sector
- Professionally managed by experts
- Globally diversified
- Members can choose their own investment strategy
- Regulated by the Ministry of Labour
Saving for retirement
- Start early!
- Use a registered provident fund for protection and growth through a tax efficient investment plan
- The employer contribution to the provident fund are also not taxed
- Use globally diversified portfolios
- Safeguard your income for when you will need it the most
Investment choices under our OLP Provident Fund
The main investment objective for all investment strategies is to invest prudently so that the reasonable expectations of Members can be met at the level of risk chosen by the Member. The objectives set relate to the real value of the Members’ benefits and thus risk and return objectives are linked to inflation. To meet this objective, the Management Committee has set four investment strategies:
- Money market (cash): designed for those individuals who want to preserve their capital in cash deposits and not take any additional risk. The funds are kept at a range of reputable financial institutions.
- Conservative Strategy (low risk): designed to provide a high probability that the return will be at least equal to the inflation over time plus a small margin in order to reduce as far as possible the risk. This would usually be suitable for people with shorter term horizons or those who do not want to have annual fluctuations in their balances.
- Balanced Strategy (low to medium risk): designed to provide a higher long term return in a balanced way aiming to provide moderate fluctuation in values but offer good growth potential. They are usually suitable for people with medium to long term investment horizons.
- Aggressive Strategy (medium risk): designed to provide higher long term return but minimize the probability of losing nominal value of assets in the long term. It has more growth potential than the lower risk strategies as it takes higher risks.
One Life Partners Provident Fund is a turnkey solution. From the administration and reporting, to the design of communication strategies, investment strategy, asset allocation and compliance we do whatever it takes to ensure that you have a proper, well-managed Provident Fund that will be an asset to its members.
The fund administration is carried out by Oneworld ltd, licensed by the Cyprus Securities and Exchange Commission (CySEC) as an Administrative Service Provider (Licence No 149/196). Services cover preparation of provident fund rules, registration, monthly bookkeeping, updating records, income allocation, compliance reporting, statutory and secretarial.
The establishment of the OLP Provident Fund presents a step in the consolidation in the provident fund sector. It allows for the integration of several single employer funds that are burdensome and expensive to run into a horizontal fund, achieving economies of scale and offering a professional, flexible and cost effective option for saving for retirement.
Our Integrated Services
- Steamlined participant investment solutions designed to simplify Provident Fund savings and deliver better diversification and retirement readiness.
- Access to institutional investment options managed by best in class investment managers.
- Improved participant spending – optimised active and passive management
- Simple but effective governance delivered by OLP, less time consuming for your business
- Reduced risk due to delegated fiduciary investment management and monitoring
- Execution of investment strategies with well proven fund manager selection
- Daily monitoring and reporting
- Rapid and decisive manager selection, termination and oversight
- Proven ability to deliver with scale and excellence in administration
- Research and behavioural finance based approach
- Up to date information and guidance integrated across channels
- Innovative and robust pro active communication
- Significant investment in technology across web, mobile and other channels
- Opportunity for shared operational and external costs for smaller pension funds that do not have critical mass on a stand-alone basis
- Institutionally priced investment menu
- Fixed participant based fee for administration ensures that lower cost solution is maintained
About One Life Partners
The Fund is established as an open ended fund for employers. Any employer may be admitted to the fund and become a new Participating Employer by signing a Participation Agreement and submitting an application to the Management Committee. The Agreement and application define the eligibility criteria and contribution schedule applicable for their employees. The Employers have the opportunity to withdraw from the Fund in accordance with the Fund’s Regulations.
The management, control and rights to delegation of administration vest with the Management Committee. The Management Committee will hold position for 3 years and consist of up to 10 members. In accordance with the law, 1/3 of the members will be appointed from the contributing employers and 1/3 will be elected from the Members. It is further recommended that an investment advisor – the licensed person who, under the law, prepares the investment strategies – sits on the Management Committee. Upon registration, the founder and principal employer of the Fund will be Oneworld ltd.
75 Prodromou Avenue
Oneworld Parkview House
P.O. Box 2063
Nicosia 1307, Cyprus
T :+35722873760