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National Pensions Fund

The surplus Fund of the National Pension Fund is being invested in different sectors. Surplus fund is the difference of Receipts from Payments.

RECEIPTS of the National Pensions Fund are as follows:
(i) Contributions, Surcharges of Employers/Fees
(ii) Interests/Dividends from Investments
(iii) Redemption/Maturity of loan stocks/debentures
(iv) Maturity of deposits in Banks
(v) Repayment of Loans
(vi) Commission as agents for collecting funds for IVTB and NSF
(vii) Income from Buildings
(viii) Any miscellaneous revenue

PAYMENTS consist of Recurrent and Capital Expenses
As from 1976/77 surplus fund has been invested and as at 30 June 2023, the portfolio of Investments was around Rs 145.2 Billion.


List of Members




Mr I. Bonomaully, Ag Deputy Financial Secretary, Ministry of Finance,  Economic Planning  and Development


Public Officers

Miss M. Madhub, Senior Chief Executive, Ministry of 

Social Integration, Social Security and National Solidarity 

(Social Security and National Solidarity Division)


Mr. Christ Paddia, Lead Analyst, Ministry of Finance, 

Economic Planning  and Development


Mr. S. D. Ramdeen, Ag. Accountant General

Representatives of Employers (Designated by Business Mauritius)

Mr. Pierre du Mée, Director and Secretary, MUA Stockbroking Ltd


Mr. Louis Clensy Appavoo, CEO, Appavoo Group


Mr. Kevin Ramkaloan, CEO, Business Mauritius

Representatives of Employees (Designated by Trade 

Union Confederations)

Dr. Mohun Prasadsing Odit, Senior Lecturer, University of 

Technology Mauritius


Mr. Vidianand Naugloo, Finance Officer, Ministry of 

Finance, Economic Planning  and Development


Mr. Indiren Vythillingum, Assistant Manager, Financial

Operations, Ministry of Education, Tertiary Education, 

Science and Technology

National Pensions Fund

Mr. V.Rambarassah, Director Investment NPF


Mr. M. Rawoteea, Analyst/Senior Analyst, Ministry of 

Finance , Economic Planning and Development


As from December 2001, the NPF and NSF are deemed to be body corporate for purposes of investment of any surplus funds. The NPF and NSF Investment Committee is set up for the purposes of determining the manner in which any surplus remaining in the Funds may be invested.