What is the Smart Future Occupational Pensions Plan about?

Smart Future is one of the biggest investments in the life of your employees.

It is addressed to any employer who wishes to offer an attractive savings package to its employees

Smart Future Occupational Pensions Plan Features

Investment Strategy


Investment approach

Hands on - Choice in your hands

You actively manage allocation percentages in different investment funds –each fund with its own investment policy, risk profile and performance.

How “Hands-on” approach works
  • You may choose to change your allocation percentages anytime.
  • You specify allocation percentages in your selected investment funds.
  • You select one or more investment funds according to your level of investment risk.
Asset Allocation
Hands off - The "Lifestyle" choice

Automatic assignment of your allocation percentages in investment funds. This choice adapts to your own risk-return profile as well as to the number of years remaining until your retirement.

How “Hands-off” approach works
  • Depending on your selection, allocation percentages in investment funds are automatically selected.
  • You pick one of the three “lifestyle” options –low risk, medium risk, or high risk.

Additional benefit

What is the legislation framework?

The Plan is a multiemployers type and is governed by Class VII of the Insurance Legislation “Management of Group Pension Funds”. The Plan is subject to the supervision of the Superintendent of Insurance who reports to the Ministry of Finance.

There are multiemployer’s plans that are governed by the Legislation of Provided Funds. These are supervised by the Superintendent of Provident Funds who reports to the Ministry of Labor.

The Plan is offered in cooperation with BOC Asset Management (BOCAM) which managers the investment funds of the Plan. BOCAM is supervised by the Cyprus Securities and Exchange Commission. This means that the Plan offers a strong double-fenced regulation to Members because it is under two strict supervisors, the Superintendent of Insurance and the Cyprus Securities and Exchange Commission.


Is there an Operational Rules document for the functioning of the Occupational Pensions Plan?

Yes, an Operational Rules document is created according to the provisional obligations of the Company towards Employees – Members. 

Approval from the Superintendent of Insurance is not required since the template is already approved.

What is the cost of transferring an existing Provident Fund/ existing account to an Occupational Pensions Fund?

There is absolutely no charge for the transfer.

What are the charges per member?

Every Member is charged with a fixed monthly percentage on the value of the his/her account that is subtracted from his/ her account directly. 

Can a Member receive advice about Investments?

Members can receive advice on the options of investments available for their contributions, by a specialized Occupational Pensions Officer appointed for the administration of the Occupational Pension Plan of their Company. 

Members can contact as often is required the appointed Occupational Pensions Officer responsible for the administration of the Company’s Plan.

Additionally, in EuroLife’s webside, there are supporting tools to assist Members for their investment options. The links of the tools are found below:

Support tools

For better retirement planning for employees and for forecasting the status of their pension accounts the following support tools are offered:

How can you receive assistance?

Contact our Customer Service at 80008880 or 22124000 or email at pensions@eurolife.bankofcyprus.com