Board responsibility
- Ensuring good governance of the Fund by enhancing its long-term sustainable success.
Board responsibility, and the value it creates
The Board’s responsibilities are set out in the NSSF Act Cap 230 and the Board Charter, which is reviewed annually.
Board focus / mindful governance in FY2025/26
- Monitored the economic outlook, strategic risks, service delivery, and organisational resilience, with regular review of strategic assumptions and stress testing.
Value created / preserved
- Strengthened governance effectiveness and long-term sustainability in a rapidly changing environment.
Board responsibility
- Determining the Fund's strategic objectives and organisational values.
Board focus / mindful governance in FY2025/26
- Oversaw Vision 2035 implementation, approved refreshed organisational values and the Creating Our Own Members growth strategy.
Value created / preserved
- Strengthened strategic alignment and cultural cohesion while positioning the Fund for broader social security inclusion.
Board responsibility
- Setting up appropriate governance structures for the Fund's business operations.
Board focus / mindful governance in FY2025/26
- Oversaw organisational redesign, including operationalisation of the Enterprise and Growth Department, and alignment of structures with strategic priorities.
Value created / preserved
- Improved agility, accountability, and capacity to execute growth priorities.
Board responsibility
- Setting responsibilities, performance targets, and evaluating management performance.
Board focus / mindful governance in FY2025/26
- Embedded strategic priorities into management scorecards and incorporated sustainability into performance management.
Value created / preserved
- Strengthened accountability and alignment between Board expectations and management delivery.
Board responsibility
- Ensuring appropriate human resources are in place and overseeing succession planning.
Board focus / mindful governance in FY2025/26
- Continued oversight of leadership development, succession planning, talent retention, and capability building.
Value created / preserved
- Enhanced leadership continuity and a future-ready workforce.
Board responsibility
- Establishing policies and processes to guide legal compliance and service delivery.
Board focus / mindful governance in FY2025/26
- Approved key governance, compliance and sustainability policies and monitored regulatory compliance through committee oversight.
Value created / preserved
- Maintained a strong compliance culture and reinforced stakeholder confidence.
Board responsibility
- Monitoring the management and implementation of plans and strategies quarterly.
Board focus / mindful governance in FY2025/26
- Received regular updates on strategic projects, growth initiatives, product development, and major capital projects, providing challenge where necessary.
Value created / preserved
- Strengthened execution oversight and visibility of progress against strategic objectives.
Board responsibility
- Carrying out a review of internal control policies, risk management, and procedures.
Board focus / mindful governance in FY2025/26
- Oversaw the effectiveness of enterprise risk management, internal controls, and emerging risk responses, including technology and AI risks.
Value created / preserved
- Strengthened the control environment and supported responsible decision-making.
Board responsibility
- Approving and monitoring the progress of major investments (S.31 NSSF Act).
Board focus / mindful governance in FY2025/26
- Considered significant investment opportunities and oversaw investment governance through the IPMC, focusing on developmental investments and real estate.
Value created / preserved
- Supported prudent capital allocation, diversification, and long-term value creation.
Board responsibility
- Approving and monitoring major contracts, acquisitions, and disposals.
Board focus / mindful governance in FY2025/26
- Oversaw significant acquisitions, disposals, and contractual amendments, including key property developments, supported by enhanced due diligence.
Value created / preserved
- Improved capital efficiency and strengthened governance over major transactions.
Board responsibility
- Recommending to the Minister the appropriate interest rate on members' accounts.
Board focus / mindful governance in FY2025/26
- Reviewed financial performance, income projections and committee recommendations supporting the annual interest-rate declaration.
Value created / preserved
- Supported equitable member outcomes while balancing long-term financial prudence.
Board responsibility
- Ensuring ethical behaviour and compliance with laws and regulations.
Board focus / mindful governance in FY2025/26
- Monitored ethics, conflicts of interest, whistleblowing, legal exposures, and compliance performance through regular committee reporting.
Value created / preserved
- Preserved the Fund's ethical culture, legitimacy, and reputation.