Financial Precarity: UoM Pension Fund Records Rs 869.6 Million Deficit

The University of Mauritius (UoM) is facing a pension fund deficit of Rs 869.6 million, raising concerns about the financial stability of the institution.

The Vice-Chancellor of UoM, Sanjeev Sobhee, has attributed the deficit to an ageing workforce and insufficient funds for the pension scheme.

A sub-committee has been formed to investigate possible fraudulent activity contributing to the deficit.

Anonymous letters alleging fraud were received between 2009 and 2021, but little action was taken.

The deficit grew from Rs 24.9 million surplus in 2011 to Rs 869.6 million in 2023. The deficit is expected to reach Rs1 billion in the next actuarial assessment in 2024.

Source: Defi Media