Article 29 - Pensions Board

Article 29 - Pensions Board

ARTICLE 29

PENSIONS BOARD






29.1 ESTABLISHMENT


There shall be a Pension Board of nine (9) members which shall be appointed by the Executive Council with the approval of the General Council to administer the Pension Scheme of The Church.


29.1.1 MEMBERSHIP


(a) Two (2) Apostles or Prophets one (1) of whom shall be


Chairman.




(b) Two (2) Ministers


(c) One (1) Area Deacon


(d) One (1) Elder


(e) One(l) Trustee


(f) One(l) Lawyer


(g) One (1) Accountant/Investment Banker


(h) Two (2) retired Ministers maybe co-opted from time to
time.



29.2 FUNCTIONS


(a) It shall be responsible for the overall administration of
the Pension Scheme


(b) It shall have the right to invest the capital or income of
the Fund in any Bank, Discount House or any permanent
and safe investment not in any way contrary to the
principles of The Church


(c) It shall cause proper Books of Account to be kept for the
Fund and final accounts prepared once a year



(d) It shall organize fund-raising activities to raise funds to
support the Pension Scheme


(e) It shall run programmes to prepare Ministers for pension


(f) It shall run programmes to sustain Pensioners


(g) It shall perform such other functions as the General
Council or the Executive Council may assign.


29.3 TERM OF OFFICE
His term of office shall be four (4) years and may be
reviewed for further terms


29.4 AREA PENSIONS COMMITTEE
There shall be an Area Pensions Committee made up of seven (7) members appointed by the Area Presbytery on the recommendation of the Area Executive Committee.


29.4.1 MEMBERSHIP


Three (3) Ministers, one of whom shall be the Chairman, three (3) Elders and one (1) Deaconess. The Area Head and the Area Deacon shall be ex-officio members.


29.4.2 FUNCTIONS


(a) They shall implement the programmes and policies of
the Pensions Board


(b) They shall organize fund-raising activities to support
the Pensions Scheme


(c) They shall organize programmes to educate officers and
members of The Church on the Pensions Scheme and
their own pension


(d) They shall run programmes to sustain the retired
Ministers of The Church in the Area


(e) They shall be responsible to the Pensions Board through
the Area Executive Committee.


29.4.3 TERM OF OFFICE
The terra of office shall be three (3) years and maybe reviewed for further terms.