CSEPF board reviews fund’s performance indicators

MUSCAT: The Board of Directors of the Civil Service Employees Pension Fund (CSEPF) held a meeting under the chairmanship of Shaikh Khalid bin Omar al Marhoon, Minister of Civil Service, Deputy-Chairman of the Board of Directors. The board discussed a number of topics, including the fund’s 2020 income, capital and operating expenditure budget as the board approved the budget. The board also approved the unaudited financial statements of the fund for the period ending on September 30, 2019 and agreed to appoint the external auditor of the fund accounts for 2020.

The meeting reviewed the fund performance indicators that included cash flow and the performance of the fund’s investments until the end of October 2019, the position of implementing the approved investment plan for the current year and following up the position of the fund’s ongoing projects. The board of directors also reviewed the report on the measures taken by the fund’s administration to implement the decisions and directives of the board taken at the previous meeting and other decisions and recommendations.

The meeting agreed to appoint an actuary to examine and prepare the financial position of the fund’s capital and reviewing the investment strategy, in addition to providing a presentation on the results of the balanced scorecard for 2019 and adopting the proposed scorecard for 2020. The board also discussed a number of other topics related to the fund’s work that are on the agenda and took appropriate decisions. — ONA