The board of trustees of Botswana Public Officers Pension Fund (BPOPF) will meet on Thursday after a protracted battle between employee trustees over the constitution of the board.
The meeting comes after BPOPF management withdrew a lawsuit they had filed before Justice David Newman late last month, complaining about the exclusion of some employee associations in the nomination of trustees. Last month BPOPF management shocked many when without mandate from the board sued employee trustees for an earlier settlement they had entered into because the voting of trustees excluded smaller associations. However, BPOPF later withdrew the matter and tendered costs, which paved the way for the Thursday meeting. Board chairman Carter Morupisi referred inquiries on the board to acting Chief Executive Officer Lesedi Moakofhi, who confirmed the Thursday meeting.
The unavailability of a board of trustees has created a governance crisis at BPOPF. A Board of Trustees is the supreme body that manages the Fund and is comprised of nine (9) Employer Trustees, nine (9) Employees Trustees, one (1) Pensioner Trustee and one (1) Independent Trustee appointed by the Board of Trustees. In total there are 21 Trustees including the Principal Officer.
The Board of Trustees has five main sub committees: Finance and Investment Committee; Benefits Committee; Audit Committee; Marketing and Communications Committee; and Human Resources and Remuneration Committee.