Who manages our investments?
It is important for members to know where the money that is used to grow their accounts comes from. The Funds’ investments are controlled by a special committee called Investment Committee consisting of the Principal Secretary, Ministry of Finance (who becomes chairman of the committee), and two members of the public experienced in financial matters and the Chief Executive Officer of the Fund.
On receipt of the contributions, the Fund, through its Investment Committee invests the money in the best way possible. In terms of the Order, the Fund deducts from the total returns collected each year, administration costs i.e. salaries, motor vehicle expenses, travelling costs etc. From what has remained, the Fund pays interest to all members’ accounts at the rate determined by the Board from year to year.
This rate of interest shall be fixed by the Board in such a way that a surplus remains for credit to the reserve account in compliance with the provisions of the Order.