Section 19: Public Pensions Advisory Committee

19. Public Pensions Advisory Committee (1) There is set up, for the purpose of the Scheme, a committee to be known as the Public Pensions Advisory Committee. (2) The Committee shall— (a) make all necessary decisions for the operation of the Scheme; (b) determine investment choices and strategies in relation to the Scheme; (c) make recommendations to the Minister for the viability of the Scheme, based on an actuarial review made, at intervals of not more than 5 years, by the Committee or by the Ministry responsible for the subject of social security; (d) make recommendations to the Minister in relation to matters pertaining to the grant of benefits to participants under the Scheme; (e) make recommendations to the Minister on changes required to the legal and policy decisions with a view to enhancing the Scheme and maintaining its viability; (f) perform any other function in relation to the operation of the Scheme. (3) (a) The Committee shall consist of— (i) the Financial Secretary, who shall be the Chairperson; (ii) the Accountant-General or his representative; (iii) a representative of the Ministry responsible for the subject of civil service; (iv) a representative of the Ministry responsible for the subject of finance; (v) a representative of the Ministry responsible for the subject of social security; (vi) a representative of the Local Government Services Commission; (vii) 2 representatives of employees of the civil service to be appointed by the Minister; [Issue 7] P6 – 14 (2) Revised Laws of Mauritius (viii) a representative of employees of statutory bodies, to be appointed by the Minister; (ix) not more than 3 other members, who shall be appointed by the Minister on the recommendation of the Chairperson and shall have experience in the field of finance or proven knowledge of pension matters. (b) The persons referred to in paragraph (a) (iii) to (viii) shall have academic or professional qualifications and proven experience in fund management, actuarial science, accountancy or economics. (4) The Committee shall meet as often as is necessary but at least once every 6 months and at such time and place as the Chairperson may determine. (5) At any meeting of the Committee, 7 members shall constitute a quorum. (6) Subject to this section, the Committee shall regulate its meetings and proceedings in such manner as it may determine. (7) — [S. 19 inserted by s. 21 (j) of Act 26 of 2012 w.e.f. 22 December 2012; amended by s. 19 (e) of Act 26 of 2013 w.e.f. 1 January 2013; s. 41 (b) of Act 9 of 2015 w.e.f. 14 May 2015.]