Pension Fund approves auditor

MUSCAT: The Board of Directors of the Civil Service Employees Pension Fund (CSEPF) on Monday held its 3rd meeting for 2016 under the chairmanship of Shaikh Khalid bin Omar al Marhoon, Minister of Civil Service, Deputy Chairman of the CSEPF Board. The Board discussed and approved the draft budget of revenues, operational and capital spending of the Fund for 2017. The Board also approved appointing an external auditor for the Fund’s accounts for 2017 and viewed the Fund’s actuarial report on the position on June 30, 2016. It also listened to a detailed briefing on the report. Additionally, the Board reviewed indicators and performance of the Fund that included cash flows and position of the Fund’s investments approved as per the investment plan for 2016. It also reviewed a follow up report on procedures taken by the Fund’s Board towards following up implementation of decisions made at the Board’s previous meeting. — ONA