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UNIVERSITY OF
KWAZULU-NATAL
Retirement Fund
Election of Members’ Trustee
2015
Important Note:
If you wish to nominate someone as a Members’ Trustee, the attached
Nomination Form must be completed and returned by 31st March 2015
CONTENTS
1.
Introduction
2.
Nomination Instructions
3.
Duties of Trustees
4
Nominated Members
5.
Voting
6.
Counting the Votes and Determining the Results
7.
Forms Attached
7.1 Nomination Form
7.2 Declaration by Nominee
1. Introduction
The Rules of the University of KwaZulu-Natal Retirement Fund (the Fund) provide for it to be managed by five
Members’ Trustees elected by the members, and five Employer’s Trustees appointed by the Executive Management
Committee of the University. The Rules also provide for an Alternate Members’ Trustee and an Alternate Employer’s
Trustee, who may stand in at meetings when a Trustee is unable to attend, and may fill a vacancy that arises during
the year.
.
The terms of office of Members’ Trustees, Dr Naven Chetty, Mr Ashok Kara and Prof Bice Martincigh, will end on 31st
March 2015, and they have made themselves available for re-election. The Alternate Members’ Trustee position is
currently vacant and the purpose of this election is to afford members the opportunity to elect three Members’
Trustees and one Alternate Members’ Trustee.
This document deals with the 2015 election procedure that will be followed.
2. Nomination Instructions
As a member of the Fund you have the right to nominate a candidate to stand for election.
You can do this by completing the Nomination Form attached at the end of this document, which must be signed by
yourself and one other UKZN Retirement Fund member. To confirm that they are willing to stand for election, your
nominee must then complete and sign the Declaration by Nominee form attached.
Only active members of the UKZN Retirement Fund may be nominated, and no person may take office as a Trustee
who:
(a)
is a minor or a person who is insane or otherwise incapable of acting; or
(b)
has been disqualified from being a director in terms of an order under the Companies Act, (no. 71 of 2008); or
(c)
is an un-rehabilitated insolvent; or
(d)
has been removed from an office of trust on account of misconduct or has been convicted of theft, fraud,
forgery, issuing a forged document, or perjury; or
(e)
has been convicted of any offence involving dishonesty and sentenced to imprisonment without the option of
a fine.
Please forward both the originally signed forms in a sealed envelope via the University’s internal mail system, or
hand deliver them to the Elections Officer, c/o Retirement Fund Office, 314 Administration Building, Westville
Campus. If you do not hand in the forms personally, please scan and email them to [email protected] before you put
the originals in the internal mail. The Fund Officer will then confirm receipt of your nomination form.
Your original nomination form must be received at the Fund Office by 31st March 2015, which is the closing date
for valid nominations.
3. Duties of Trustees
It is important that members who accept nomination to stand for election are familiar with the role of the Board of
Trustees.
Trustee duties include:
a)
Managing the Fund in terms of its registered Rules and the Pension Funds Act, and adhering at all times to
the Fund’s Code of Conduct;
b)
Managing the Benefit Arrangement, which provides monthly disability and funeral benefits to Fund
members;
c)
Ensuring that contributions are received and proper control systems are adhered to;
d)
Ensuring that claims are paid correctly and timeously;
e)
Ensuring that there is adequate communication with members on all aspects of the Fund's operation;
f)
Formulating an Investment Policy and monitoring the investment performance of the Fund's investment
managers;
g)
Obtaining expect advice when this is required; and
g)
Acting at all times in the best interests of the Fund as a whole.
New trustees are required to attend trustee training within six months of their election, which will assist them to carry
out their duties competently. The training will familiarize them with key aspects of the:






Pension Funds Act;
Income Tax Act (as it applies to retirement funds) and other relevant legislation;
Fund’s rules;
Fund’s policies;
Fund’s administration and financial accounting system;
Investment of Fund assets.
Trustee meetings are held quarterly and trustees are required to attend these meetings. The Fund has committees that
provide assistance to the trustees in areas such as finance, risk management and benefit distribution. Trustees may
also be requested to undertake committee responsibilities, and to attend other trustee forums from time to time.
Participating in the management of the Fund means taking on responsibilities that will require time and effort, but
incumbents also learn a great deal.
Before accepting a nomination, please consider whether you are able to devote sufficient time to performing these
duties, and are willing to accept the consequent responsibilities.
4. Nominated Members
An email will be sent to all members by 13th April 2015 with some brief information about the nominees for election.
Further information will be available on the Fund website http://retirementfund.ukzn.ac.za/.
5. Voting
Members will be entitled to vote for three (3) candidates. Should you not receive a request to vote by 15th April 2015,
please contact the Fund Officer on [email protected], mentioning your staff number.
You may vote for the candidates of your choice, either by returning the email that you are sent to the Electoral Officer,
after inserting your staff number and your selected candidates, or by printing a voting form and returning it to the
Fund Office. More details of the voting procedure will be advised in the email.
The deadline for vote submissions is 15h00 on the 24th April 2015. (Note: If you are sending your vote via the
internal mail system, please allow enough time for it to reach the Fund Office before the deadline date).
6. Counting the Votes and Determining the Result
The Electoral Officer appointed by the Trustees will verify the counting of the votes in the presence of the Principal
Officer, the Fund Officer and any of the nominees who choose to participate. The election results will be published on
the Fund’s website on 30th April 2015 and details of the new Members’ Trustees will be provided in the Fund Bulletin.
The Members’ Trustees and the Alternate Members’ Trustee elected will take office from 1st May 2015.
Please keep this email for reference purposes.
If you need any further information, or have any queries, please do not hesitate to contact the Fund Officer on X1007.
UNIVERSITY OF
KWAZULU-NATAL
Retirement Fund
2015 - Election of Members’ Trustees and Alternates
Nomination Form
Nomination for the Election of Members’ Trustees and Alternate Members’ Trustees to the
Board of Trustees
Important:
-
Only active members of the University of KwaZulu-Natal Retirement Fund may be nominated, and the
nomination form must be signed by two Fund members.
Original, fully completed Nomination and Declaration by Nominee forms must be received by the
Elections Officer, c/o Retirement Fund Office, 314 Admin Building, Westville Campus by 31st March 2015.
Nominee’s Particulars
Full Names:
……………………………………………………………………………………………
Staff Number:
……………………………………………………………………………………………
Campus:
……………………………………………………………………………………………
Position Held:
…………………………………………………………………………
Confirmation of the Nomination
We, the undersigned, nominate the above member for election as a Members’ Trustee to the Board of Trustees of
the University of KwaZulu-Natal Retirement Fund.
Signatures
Name of Signatories (in block
letters)
Staff
Number
Email Address
(i)
(ii)
Note! Two members’ signatures are required for your nomination to be valid and a Declaration by
Nominee form, completed and signed by the Nominee, must accompany this form.
Originally signed documents are required.
Date of Nomination:
___________________________________________
UNIVERSITY OF
KWAZULU-NATAL
Retirement Fund
2015 - Election of Members’ Trustees
Declaration by Nominee
I (Full name)………………………………………………
Staff Number……………………………………………
am willing to accept nomination for election to the position of either Members’ Trustee or Alternate Members’
Trustee.
My contact details are:
Telephone:
(w)
__________________________
(Cell) _________________________
Email: __________________________________________
1.
I hereby declare that
I am a current member of the University of KwaZulu-Natal Retirement Fund;
I am aware that the Pension Funds Act and the Rules of the Fund preclude from being a trustee any person
who:
(a) is a minor or any person who is insane or otherwise incapable of acting; or
(b) has been disqualified from being a director in terms of an order under the Companies Act, (no. 71 of 2008);
or
(c) is an un-rehabilitated insolvent; or
(d) has been removed from an office of trust on account of misconduct or who has been convicted of theft,
fraud, forgery issuing a forged document or perjury; or
(e) has been convicted of any offence involving dishonesty and sentenced to imprisonment without the
option of a fine
I confirm that none of the above applies to me, and that I am a fit and proper person to be elected as a
Members’ Trustee.
2.
I am willing to act as a trustee, and if I am elected, I will undertake to:
attend trustees’ meetings except in unavoidable circumstances, and undertake my fair share of
Committee and other duties;
attend the compulsory Trustee Training within six months of my election, which I understand will
include a course covering Fiduciary Duties and Investments;
sign the Acceptance of Trust Document of the University of KwaZulu-Natal Retirement Fund,
indicating my agreement to abide by the Rules, Code of Conduct, and Policies of the Fund.
3.
I undertake to email to [email protected], a summary CV of no longer than half a page, and a photograph of
myself by 8th April 2015, and agree to a summary of these being circulated with the voting request and details
being published on the Fund’s website for the information of members.
_________________________
Signature of Nominee
______________________
Date