Government Employees Pension Law, 1996Annexure 1 : Government Employees Pension Law, 19966. Management of Fund by Board of Trustees |
| (1) | There is hereby established a board which shall be known as the Board of Trustees and which shall be constituted as prescribed. |
| (2) | The Board shall manage the Fund and shall in respect thereof exercise the powers, perform the functions and carry out the duties conferred upon, assigned to or imposed upon it in terms of this Law. |
| (3) | Members and pensioners of the Fund shall be entitled to representation on the Board, which representation shall collectively be equal in number to the representation by the employer as prescribed. |
| (4) | The first meeting of the Board shall take place at a time and place to be determined by the Minister, and any subsequent meeting of the Board shall take place at a time and place determined in terms of the rules. |
| (5) | The procedure to be followed at a meeting of the Board, the quorum for such a meeting, and the majority of votes required for a decision of the Board, shall be as prescribed. |
| (6) | The Board may delegate any of its powers, functions or duties to a management committee, committee or person to be exercised, performed or carried out, subject to such conditions as may be determined by the Board. |
| (7) | The Board, acting in consultation with the Minister, shall determine the investment policy of the Fund. |