Frequently Asked Questions about the Joint Management Committee 

Tell me more about the Joint Management Committee There are two levels of governance for Old Mutual employees in the Old Mutual SuperFund Pension Fund (“SuperFund”), to make sure that your retirement interests are completely protected:

• The Management Board of Trustees of SuperFund looks after all the members in SuperFund, including those who work for other employers.
• The Joint Management Committee is made up of representatives who are all Old Mutual employees. The JMC is focused only on retirement benefits for Old Mutual employees.

There are eight representatives on the JMC, drawn from the OMEGS membership:

• Four representatives are elected by members.
• Four representatives are appointed by Old Mutual as the Employer.

JMC representatives serve for a term of 4 years. To enable continuity, elections are held every two years to replace the two member-elected representatives who have reached the end of their four-year term. The JMC is empowered to perform certain functions by virtue of a Mandate from the Employer, as well as provisions in the SuperFund Rules. The key functions of the JMC are to:

• Support the governance structure and processes of the SuperFund;
• Exercise oversight over all processes impacting upon the OM Membership;
• Oversee the investment and benefits framework and recommend changes and enhancements;
• Oversee communication and draft tailored communication specifically for the OMEGS membership; and
• Report back and make recommendations to the Employer regarding OMEGS.

What is the role of a JMC representative? Although JMC representatives do not have the same statutory function as a Trustee, they are still expected to:

• Ensure that the interests of the members are always protected;
• Act with care and diligence;
• Avoid conflicts of interest;
• Act impartially towards all members and their beneficiaries;
• Consider all relevant information and partake in discussions in order to reach decisions and resolve disputes; and
• Regularly attend and participate in JMC meetings and sub-committee meetings.

Do JMC representatives get remunerated?

• No, there is no payment or remuneration for being a JMC representative.

How often does the JMC meet and where are the meetings held?

• The JMC usually meets four times a year for full JMC meetings.
• The JMC makes use of various sub-committees to ensure the efficient running and compliance of OMEGS. Once you are elected, you will be expected to serve on at least one sub-committee, which will usually meet at least 4 times a year.
• Meetings are usually held at Mutualpark, Pinelands, Cape Town. If you are not based in Cape Town, tele-conferencing or video-conferencing facilities may be used to ensure the participation of all representatives.
• Meetings typically last 2 to 4 hours. In addition, JMC representatives are expected to prepare properly for meetings by reading and applying their minds to the topics at hand.

Will I receive training if I am elected?

• Yes, JMC representatives are expected to attend appropriate training to equip them to appropriately fulfil their function.

Will Old Mutual as my Employer allow me time to attend the training and meetings?

• Yes. However, you will need to inform your line manager that you have been elected and makesure that they are kept informed of training and meetings that are taking place.
• With the current developments regarding Old Mutual’s work from home policy, you should availyourself for the relevant JMC meetings via MS Teams and have access to a reliable networksource. You should also be able to provide electronic signatures when required.

How does the JMC election process work? Every two years, members have the opportunity to elect two new representatives to the JMC (to replace two representatives who are stepping down). This is your opportunity to elect two trustworthy and committed JMC representatives to take on this important responsibility. Phase 1 – Nominations phase (THIS PHASE IS NOW COMPLETE)

• Only active members of OMEGS are invited to nominate fellow OMEGS members to stand as JMC representatives. Only active members of the Old Mutual Employee Group in SuperFund are eligible for nomination.
• Members are able to nominate up to two members of OMEGS by completing the form online. If you submit more than two nomination forms, the most recently dated forms will be processed. Once your nomination form has been submitted, it cannot be withdrawn.
• Please ensure that you obtain consent from anyone you nominate, prior to submitting your nomination.
• All nominations must be submitted by a specified date and any nominations received after the closing date will be disregarded.
• Nominees will be contacted to ensure that they are prepared to stand for election, and that they meet the necessary fit and proper requirements.

Phase 2 – Voting phase

• Once the Nomination Phase has been completed and the list of candidates finalised, we will move to the Voting Phase. This is expected to commence on 5 September 2022.
• You will be able to vote for up to two candidates.
• All OMEGS members will receive an e-mail inviting them to participate in voting for their preferred candidate/s. This email will provide members with a link where they will be able to read more about the nominees and make their vote/s electronically. This link can only be used once, so please make sure that you are happy with your choice before you press the submit button.
• Any votes received after the closing date will be disregarded. Once your vote has been submitted, it cannot be withdrawn. Only active members of OMEGS may vote. 

Phase 3 – Announcing the new JMC representatives

• The two candidates with the highest number of votes will be elected as JMC representatives. •The two new JMC representatives are expected to take up their positions on the JMC with effect from 1 October 2022. •If a member-elected representative steps down before the next JMC elections, then representatives may be drawn from those candidates who received the next highest number of votes.