BAKWADI LEKOPANE
The Minster for State President, Defence and Security, Moeti Mohwasa has directed Botswana Public Officers Pension Fund (BPOPF) to find missing records of retired Botswana Defence Force (BDF) soldiers whose transfer values on which to apply the n/375 denominator enhancement vanished, and to correct the anomaly.
Mohwasa told the last session of Parliament that BPOPF had committed to having completed the exercise by the end of August 2026. A group of retirees calling themselves, “The Forgotten Soldiers”, had complained that they were transferred from the old defined benefit scheme where they were already getting monthly pensions to the BPOPF, without their consent.
Strangely, no record of their transfer values on which to apply the n/375 denominator enhancement was found, hence they are neither benefitting from the improved pension salaries they otherwise would have under the old pension nor from the transfer value enhancement enjoyed by those under the BPOPF. “There is no proof of transfer consent for these individuals thus far, nor are there any calculations of transfer values produced by those responsible or the Fund Administrators of the time. It would be unjust to disadvantage these individuals for these administrative errors,” Mohwasa declared.
Purchasing annuity
Another related matter is the concern expressed by some veterans regarding the legal requirement to purchase an annuity with a portion of their benefits. So far, 182 members have had to purchase an annuity, as their benefits were above the allowable threshold to encash the remaining 50%.
Fifty-Six (56) members declined to opt for annuity purchase. They are requesting instead to be paid their full benefits in view of their advanced age and pressing needs. This request was first submitted to the Ministry of Finance, with the belief that the Minister might have the power to exempt them; unfortunately, the law as it currently stands does not provide for that.
“I have been engaging the Botswana Public Officers Pension Fund (BPOPF) and other stakeholders to explore a legally sound route to exemption for members already beyond retirement age. On 4 August 2026, I convened a meeting of all relevant stakeholders, namely the Ministry of Finance, BPOPF, the BDF, the Veterans Office, NMG and NBFIRA, at which it was confirmed that the law as it currently stands does not provide for such an exemption.
I have nevertheless tasked all parties concerned to obtain legal opinions on this matter. The feedback the minister got from the stakeholder meeting on Friday, 15 August 2026, is that annuity purchases are dictated by the secondary legislation (regulations) of the Retirement Fund Act, 2022 under the Ministry of Finance. Ministry legal experts were hence directed to engage with the Attorney General to explore options around this unique state of affairs,” Mohwasa said.