Defence ministry pension fund holds annual meeting

MUSCAT: The board of directors of the Ministry of Defence Pension Fund held its annual meeting on Wednesday under the auspices of Sayyid Badr bin Saud al Busaidy, Minister Responsible for Defence Affairs, and Chairman of the board of directors. The meeting reviewed the investments of Ministry of Defence Pension Fund during the previous period and ratified the external auditor’s report of the fund’s accounts and financial statements. It also reviewed other meeting’s agendas and took suitable decisions on them including the workflow at the existing and upcoming real estate projects and the fund’s investment performance for the first ten months of 2016.

The board underscored the importance of abidance by the general investment policy which seeks to achieve better revenues while taking into consideration the changes and challenges facing the regional and global economies and the need to ensure cash flow to cover the financial and investment obligations. The board placed emphasis on the continuation of providing quality retirement services and constantly enhancing the channels of communication between the fund and the affiliates of the ministry of defence and the Sultan’s Armed Forces.