Role and composition of the PFGB

The functions of the PFGB are laid down in Article I 2.05 of the Fund’s rules and, amongst other things, include monitoring the actuarial status of the Fund, reviewing the Annual Report & Financial Statements, approving the Statement of Investment Principles, Investment Guidelines, Risk Limit, and Strategic Asset Allocation, and approving the internal audit plan.

The composition of the PFGB is laid down in Article I 2.06 of the Fund’s rules. The PFGB is required to have at least ten members, comprising two members appointed by the CERN Council, one appointed by the ESO Council, one ex-officio member appointed by CERN Management, two appointed by the CERN Staff Association, one appointed by the ESO Staff Association, one appointed by the CERN and ESO Pensioner Association, and two professional members specialised in pension fund matters appointed by the CERN Council. The Chief Executive ...