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Duties and responsibilities

          A fund committee has many duties that it is in charge of. Overall, it ensures that the provident fund is administered strictly in accordance with the fund article and provident fund laws.
  • General Duties
    1. Accept membership application and inform the asset management company about terminated members.
    2. Disclose the fund article to members
    3. Oversee the fund contribution from employer and employees
    4. Revise the fund article
    5. Take legal actions to protect the fund’s benefit
    6. Conduct the asset liquidation process
     
  • Investment Duties
    1. Set fund objectives and investment policies
    2. Select an asset management company
    3. Monitor the asset management company to invest in accordance with the fund’s investment policy
    4. Give suggestions and notifications about asset valuation
    5. Make decisions in accepting donation
    6. Make decisions in accepting debt settlement with other assets
    7. Give approval to any conflict of interest transaction
    8. Monitor the correction of the NAV per unit in case it was incorrectly calculated
     
  • Disclosure Duties

    1. Disclose all relevant information to fund members
    2. Establish the fund's annual general meeting (AGM)
     
last updated date 09/06/2553

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