Membership:

  1. Franklin Choge (Chairman)
  2. Erica Kipsiosoi (Member)
  3. Joshua Kamana (Member)
  4. Salome Mwiti (Secretary)

The Terms of Reference are:

  1. Review the Scheme’s budget and investments and, at least once in every three months, recommend to the Board of Trustees the necessary actions in respect of the budgets or investments. The committee shall review all large projects and monitor the projects’ implementation.
  2. Manage the selection procedure for the Fund Manager and Custodian and shall oversee the performance evaluation in accordance with the terms of service agreed upon with the service providers.
  3. Review, recommend and give guidance to the Board of Trustees on matters regarding any significant investment action by the Fund Manager.
  4. Ensure that the Scheme complies with its Investment Policy Statement which shall include an investment philosophy and strategy.
  5. Assess the Scheme’s investment performance by comparing the Scheme’s performance to the benchmarks set out in the Investment Policy Statement and oversee the Fund Manager’s compliance with the investment policy statement.
  6. Review the Scheme’s financial reports as prepared by the auditor at least once in each year.
  7. Receive and consider the Scheme’s annual budget including its revisions before submitting the budget to the Board.
  8. From time to time, review and propose any relevant or necessary amendments to the Scheme’s procurement and asset disposal procedures and ascertain whether or not all procurement by the Administrator comply with the Scheme’s procurement and asset disposal procedure and the relevant written law.
  9. Review, recommend, do or cause to be done, in consultation with relevant committees of the Board, all measures necessary to reduce the Scheme’s expenditure, receive and consider the financial implications of any act proposed by the scheme which involves expenditure of revenue or assets exceeding five percent of the value of the scheme’s assets, and write off any of the scheme’s assets.