Page 39 - Bulletin, Vol.81 No.1, May 2022

Plan Review Group

The Board approved the terms of reference for its newly established Plan Review
Group. This Group will consider major developments to be taken into account in
defining the future needs of the Fund, as well as proposals for simplification and
streamlining of the Fund’s Regulations, Rules and Pension Adjustment System. The
Review Group will be composed of eight members, two representatives from each
constituent group and two representatives of FAFICS.

Ethics Adviser

The Board welcomed the new ethics adviser who started his term on 1 April 2022. The
Ethics Adviser observed the session in order to get a better understanding regarding the
working methods and procedures of the Board.

Board Self-Evaluation Survey Questionnaire

In its discussion on the survey questionnaire, the Board confirmed the practice of the
annual Board self-evaluation survey as well as the necessity to discuss the outcome of
such survey. The Board also agreed on the importance of regularly updating of the
survey. A group of volunteers will work with the Secretary of the Board to propose for
nd
the Board’s endorsement an updated survey for its 72 session in July 2022.
Representation of New Member Organizations on the Board

Following a proposal from the SPCs of a number of member organizations, the Board
requested the Fund secretariat to prepare a paper for presentation no later than the July
2023 meeting of the Pension Board containing an outline on the current arrangements
governing how new member organizations joining the Fund are accommodated on the
Board in terms of representation, and how the Board might consider accommodating
new entrants into the Fund in the future.

Changes to the Regulations, Rules and Pension Adjustment System

The Board noted the Chief Executive of Pension Administration’s proposal of new
provisions in the Regulations and Administrative Rules to allow for restoration in the
case of deferred retirement benefits, on a cost neutral basis, and to allow the use of
electronic forms and other electronic means in cases where the Regulations and Rules
require participants, retirees and other beneficiaries to submit instructions, requests and
appeals in writing. The Board decided that these provisions will be further considered at
its July 2022 session, noting the Fund’s commitment to providing services in
accordance with established international cybersecurity industry standards in respect of
the plans for digitalization.

Source: UNJSPF.org

AAFI-AFICS BULLETIN, Vol. 81 No.1, 2022-05 37