DUTIES/FUNCTIONS OF THE BOARD

1. Administering the scheme in accordance with the provisions of the Act, Regulations and scheme rules
2. Keeping all proper books and records of account with respect to income, expenditure, liabilities and assets of the scheme fund;
3. Computing and preparing statements of payments of benefits to members;
4. Liaising with the Authority, sponsors, members, manager, custodian and any other professional engaged by the scheme;
5. Collecting, keeping and updating retirement benefits data of each member including maintenance of individual membership records;
6. Ensuring that the agreed contributions have been remitted to the custodian as required by the Act, regulations and the scheme rules;
7. Communicating regularly with the members of the scheme with respect to the affairs of the scheme;
8. Providing members with annual membership benefits statements;
9. Convening an annual meeting of members to enable them to raise any matters pertaining to their schemes; and
10. Ensuring that documents intended to bind the scheme are professionally prepared.