PHOTO ABBZ: VNPF Response

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The VNPF Board and Management delivered their response to Talemaot’s ‘Monkey Business at VNPF’ Report yesterday, Thursday 19^th July, 2012.

Here is a summary of their response:

Points	Response from VNPF Board/Management
Management Remuneration	VNPF needs to offer lucrative rates to attract qualified management personnel.
Investment Decisions	All investment decisions have been made under established procedures and guidelines. Investments cited in the report are delivering dividends to VNPF (no information on amounts, interest rates, provided) No explanation of criteria for selecting resorts or other business activities in which VNPF will invest members funds No response on how former VNPF Chairperson’s construction company was selected to build Nasama Resort No response on workers tragically killed in Nasama Resort gas explosion not being registered at VNPF No response on how and why the Bouffa Farm proposal was prepared by the VNPF General Manager’s spouse
Staff Recruitment and Political Interests	All recruitment has been conducted under established procedures and guidelines No response on Human Resource Director’s political interests and actions
VNPF Vehicles	No response.

Possible Options for moving forward:

The Talemaot team is heartened by the public response to this report, however, we would like to urge everyone to exercise restraint and caution in how we react to this matter. Above all, it is paramount that peace and civil order always prevails in our country.

The following options are suggested for moving forward:

Alternative savings schemes are allowed under VNPF Act under Part 7 – Approved Schemes. However, certain conditions apply to such schemes.
Lobby Minister of Finance to take remedial action. TheMinister of Finance is empowered by the VNPF Act under Section 3 to make changes in the Board if it is not performing.

A copy of the VNPF Act is attached for information.

We encourage you to put forward any other suggestions that address this situation in a peaceful and orderly manner.