New Chairman
The new Chairman of the Board of the Pension Fund, Garmt (G.J.A.) Louw, was present at the start of the meeting in order to introduce himself. As Executive Vice President Talent & Development, Garmt’s responsibilities include global staffing and recruitment.
On the Voeks website there is a photo and personal outline of the new Chairman.
Financial position
The Pension Fund’s financial position remains practically unchanged. At the end of December 2009 the funding ratio was 121 per cent. Current dossiers and Requests for Advice
The current status of three dossiers was briefly discussed. These are the Recording of Indexation Policy, Possibilities of Ending the Administration Agreement and the Request for Advice (under discussion) on the termination of the Regulation for Supplements for the Lowest Paid beneficiaries. In March the Manager will arrange a workshop for the Members’ Council on the Pension Fund Plan for 2009-2011, which will shortly be submitted to the Members’ Council for advice, and on risk management.
Finally the Manager previewed several Requests for Advice that will be presented in the course of this year. Newsletter
In 2009 the Board evaluated the organisation of and processes within various organisational units of the Pension Fund, partly on account of the crisis on the financial markets. The outcome of this evaluation, and the ensuing changes that the Board intends to introduce, were discussed. A Newsletter reporting on this will be published in the spring of 2010. The Newsletter will also contain information about the new Pension Calculator for active members, which will be introduced in a few weeks’ time. The next meeting between the Members’ Council and the Manager will be held on April 28, 2010.
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