LASF Contributions and Benefits Department

The Local Authorities Superannuation Fund (LASF), established under the LASF Act CAP 284, is a defined benefits pension scheme serving employees of various public institutions. Its mandate includes member registration, contribution collection, fund investment, and benefit disbursement.

The Contributions and Benefits Department fulfils this mandate through four key sections:

Benefits Section: Calculates and processes retirement benefits based on salary, service length, and retirement age.

Compliance Section: Ensures timely contribution collection from employers, as per statutory guidelines.

Customer Service Section: Manages member registration, claims, and record updates while engaging stakeholders.

Registration Section: Maintains secure, confidential member records and correspondence.

Finance and Investments

The Finance and Investment Department compliments the operations of the Fund in all finance and investments matters. The mandate resting with financial issues includes production of management reports, key business and financial reports while investments planning and execution matters in relation to both capital and money markets is dealt with in compliance with governing policy provisions.

Internal Audit

The Internal Auditing function of the Fund provides an independent, objective assurance and consulting services to the various departments of the Fund. It offers services that are designed to add value and improve the operations of the Fund. The Department helps the Fund achieve its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. The mandate is derived from the Internal Audit Charter which is approved by the governing board.

Strategy and Business Performance Department

The role of the Strategy and Business Performance Department can be summarised into four main functional areas- Strategy, Risk Management and Business Continuity, Research and Actuarial Activities.

Strategy

From a governance perspective, the LASF Board and Management have a responsibility of setting long term goals aimed at ensuring the Fund continues to deliver on its mandate which is ultimately, to pay the promised benefits to its members.

The Strategy Business Performance Department coordinates the strategic planning process at the Fund. The process which involves setting overall objectives, assigning strategies, and key performance indicators to the selected objectives. The process also includes employing suitable monitoring and evaluation techniques.

Risk Management and Business Continuity

On its own a strategic plan is not enough. It is also crucial for and organisation to institute measures to addressing risks associated with attainment of its goals. As such, The Fund through the Strategy and Business Performance Department has employed risk management functions.

In performing risk management functions, the Strategy and Business Performance Department coordinates risk assessments, employments of appropriate risk treatment measures and monitoring. The Departments is also responsible for implementing business continuity programs.

Research

Another key task performed by the Strategy and Business Department is that of undertaking regular and proactive research to anticipate the impact of social security, labour market, economic and any other environmental developments on the scheme.

Actuarial

With Actuarial Activities the Department coordinates all actuarial related assignments including the statutory actuarial valuations as prescribed in the LASF Act. The Department also oversees all other special actuarial assignments as required from time to time

It is the role of the Strategy and Business Performance Department to ensure that the Fund have a general understanding of the actuarial expectations, the valuation procedures, and the projection methods employed whenever actuarial assignments are conducted.

Legal Services

The main objective of the Legal Services Department is generally to provide legal advice to the Board of Directors, the Managing Director and Management on diverse legal issues to ensure that the Fund operates within legal confines and that all the Fund’s interests are proactively protected at all times, through thorough legal research and other legal techniques. The Department is further required to draft, proofread and perfect agreements entered into by the Fund for provision of various services as well as agreements for the provision of services to the Fund. The Legal Services Department is further required to litigate on behalf of the Fund in cases where the Fund is required to enforce its rights at law and also defend the Fund in cases where the Fund has been brought before a court of law or any other tribunal legally constituted by law.

Human Resource and Administration

The Human Resource and Administration Department supports the Fund in fulfilling its mission through coherent human resources Policies and Procedures and by providing efficient and effective human Resource services. It also develops and implement programmes that will support LASF Strategic Objectives through appropriate resourcing, performance and reward management, staff development and human resource communications and administration

Information Technology

The Information Technology Department is a support unit under the directorate of Corporate Services. The department is mandated to develop, implement and support the Fund’s Information System. The Information system comprises various components including, the Network, Servers, applications and other peripheral devices and software.

Purchasing and Stores

The Department is responsible for all Procurement of goods, services and works of the best quality, in the right quantities, from the right sources, at right prices and have them delivered to the right locations as demanded by users departments. It is also responsible for management of all Insurance policies at the Fund. The Procurement and Supplies Department ensures that all insurance policies are renewed without any break in the cover. Additionally, it reports perils immediately and processes claims within the shortest possible time.

Corporate Communication

The Corporate Communication Department plays a crucial role in ensuring clear and effective communication with stakeholders. It manages the dissemination of accurate and timely information utilizing various channels to reach its audience. Additionally, the department enhances LASF’s reputation and trust through effective public relations, handling inquiries, and maintaining consistent and professional messaging. Key activities for the department include the following:

Internal Updates: Inform employees about goals, policies, and updates via newsletters, intranet, and engagement activities.

Public Relations: Manage the organization’s image with members, regulators, media, and the public through press releases, media relations, and social media.

Brand Integrity: Ensure consistent use of brand elements like logos and slogans to maintain brand identity.

Crisis Management: Develop and execute communication plans for crises.

Stakeholder Relations: Build and maintain positive relationships with stakeholders through events and meetings.

Content Production: Create quality content for websites, social media, newsletters, and ensure clear, accurate communication.