CFA Society South Africa

CFA Institute encourages pension plans to adopt the voluntary Code of Conduct for Members of a Pension Scheme Governing Body. By adopting the Code, you are establishing an ethical framework for governing board members and showing your commitment to the best interests of pension participants and beneficiaries.

Pension Trustee Code of Conduct.pdf pdf

For more information visit – https://www.cfainstitute.org/en/ethics/codes/pension-trustee-code

The Code outlines 10 fundamental ethical principles, which are universally applicable regardless of fund type, for pension fund trustees:​

• Act in good faith and in the best interests of the scheme participants and beneficiaries
• Act with prudence and reasonable care
• Act with skill, competence, and diligence
• Maintain independence and objectivity by, among other actions, avoiding conflicts of interest, refraining from self-dealing, and refusing any gift that could reasonably be expected to affect their loyalty
• Abide by all applicable laws, rules, and regulations, including the terms of the scheme documents
• Deal fairly, objectively, and impartially with all participants and beneficiaries
• Take actions that are consistent with the established mission of the scheme and the policies that support that mission
• Review on a regular basis the efficiency and effectiveness of the scheme's success in meeting its goals, including assessing the performance and actions of scheme service providers, such as investment managers, consultants, and actuaries
• Maintain confidentiality of scheme, participant, and beneficiary information
• Communicate with participants, beneficiaries, and supervisory authorities in a timely, accurate, and transparent manner.