Muscat:The Board of Directors (BoD) of the Ministry of Defence Pension Fund held its second annual meeting under the chair of Sayyid Badr bin Saud bin Harib Al Busaidi, Minister Responsible for Defence Affairs and Chairman of the Fund's BoD.
The meeting, which was held at the headquarters of the fund, reviewed the investment performance of the fund during the past period. The BoD approved the external auditor report for the accounts of the fund and the Financial Statements. It then reviewed the rest of the items on the agenda and took appropriate decisions towards them.
The board reviewed the real estate investment portfolio in the pension fund and the work progress in the existing real estate projects and future projects. It also discussed the investment performance of the fund during the first ten months of 2018 and the efforts made to achieve good results.
The board emphasised the public investment policy that seeks to achieve the best returns taking into account the changes and challenges facing the global, regional and local economy.
It highlighted the need to continue cash flows to cover the financial, investment and pension liabilities of the fund. It also highlighted the need to continue supporting the local feasible projects inside the Sultanate which serve the growth of national economy and create job opportunities for Omanis.
The Ministry of Defence Pension Fund BoD urged the importance of continuing providing the best pension services and enhancing communication channels between the Pension Fund, the retirees and the Sultan's Armed Forces personnel. It also underscored the need to develop the work mechanism to achieve the prospective aims.