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FUNCTIONS OF A TRUSTEE

A Trustee of a retirement benefit scheme shall:-

  • Have a fiduciary responsibility for all decisions of the scheme and to ensure the safety of scheme funds.
  • Managing and overseeing the operation of the retirement benefits scheme in accordance with the URBRA act ,2011.
  • Providing directions for the proper investment of the scheme funds (Making  the Investment Policy Statement)
  • Making arrangements for payments of benefits in accordance with Scheme rules.
  • Keeping financial and membership records of the scheme.
  • Opening and maintaining bank accounts necessary for the exercise of functions of the scheme.
  • Appointing service providers of the scheme.
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