The Fund is managed by nine (9) Board Members. The diagram below illustrates the governance hierarchy.
4 Employer-Appointed
4 Member-Elected
1 Independent Board Member
IPEC
Grant Thornton
External Auditor
Board of Fund
Actuary
Quantum Actuarial Consultants
Audit, Risk & Compliance Committee
Finance, Investments & Procurement Committee
HR, Legal & Benefits Committee
Principal Officer
Fund Management Team
Executes Management Policies
Governance Tools
Board Charter
Board Committees Terms of Reference
Strategy 2024-2028
Pension and Provident Fund Act
Statutory Instrument 323 of 1991
Fund Rules
Risk Management
Compliance
Internal Audit: (Outsourced)
The Board of Fund reports to IPEC the regulator.
AMG Global are the external auditors for the Fund.
Actuarial services are done by Quantum Actuarial Consultants
The Board delegates specific tasks to committees but remains overly responsible for all aspects.
The primary law governing the Pension Funds business is the Pension and Provident Funds Act Chapter 24:32. The additional regulations are covered by the Statutory Instrument 323 of 1991.
Board Members convene quarterly meetings to discuss Pension Fund business and provide direction.
