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The Board of Trustees at KPAPS considers corporate governance as a key pillar in the management of the Scheme and accountability to the Sponsor and members. Therefore it has inculcated a corporate culture embedded on value system to drive the behavior and decision making processes within the Scheme. The Scheme at all times adopts the use of established best practice guidelines to achieve highest standards of compliance with the law, whilst ensuring the Scheme is managed to satisfy the interests of members and the Sponsor.

Code of conduct
In order to enable the Board to operate effectively and in the best interests of the Scheme, all Trustees are required to observe the rules and regulations governing the Conduct of Trustees as contained in the Board manual.
Whistle-blowing policy
The Scheme is committed to high standards of ethical, moral and legal business conduct. The whistle-blowing policy was formulated to provide a framework to guide the impartial handling of feedback and report on any non-compliance.

Succession planning
Succession planning is a process of systematically identifying, assessing and developing talent and capacity to ensure continuity in key leadership positions within the organization. A succession plan is designed to identify and prepare potential candidates to take over key positions as they become available. The Board has put in place a succession plan for the Scheme to ensure a smooth transition with less disruption of operations in case of positions becoming vacant. This plan encompasses both the board and key management positions.

Statement of Compliance and Conflict of Interest
Conscious of its responsibilities to members and other stakeholders ,the Board of Trustees issues a statement at the end of each year confirming that they have complied with the law, conducted their affairs in accordance with the best principles and practices of corporate governance and that to the best of the knowledge of the Board and management, no person, employee or agent acting on behalf of the Scheme with the knowledge or authority of the Board or management, committed any offense under the Prevention of Corruption Act or indulged in any unethical behavior in the conduct of the Fund’s business, or been involved in money laundering, or any practice or activity contrary to national laws or international conventions.
All the Trustees are expected to declare at the beginning of each board meeting, any circumstances which may give rise to any actual or potential conflict of interest. In addition every year all the Trustees submits the annual conflict of interest declaration.

Risk Management
The Trustees are committed to a process of Enterprise Risk Management that encompasses identification and management of strategic and operational risks through a structured, systematic, proactive and integrated process. This risk management framework enables Fund to focus in a comprehensive and holistic manner on all risks that faces the Scheme. The Trustees have put in place a risk management policy that guides the processes involved in the risk management as well as specify the responsibilities of the different parties involved. Risk management is also an integral part of the strategic plan development process.

Corporate Social Responsibility (CSR)
The Scheme recognizes the importance of giving back to society and is committed to contributing to socio-economic development of the country. The cornerstone of our sustainability and commitment is through various engagements with stakeholders whether directly or indirectly through various activities that are planned for each year. The Fund is committed to ethical conduct and fairness in all its activities.

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