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.