Governance
The Benevolent Fund Committee
Terms of Reference
The Benevolent Fund Committee is appointed by Council to administer the financial affairs of the fund. The main duties of the Committee include monitoring the performance of the investments in relation to external benchmarks; reviewing the appointment and performance of the investment manager; approving grants to be made from the fund and responsibility for the annual report and accounts.
The Benevolent Fund is a separate legal entity and registered charity. The members of the Committee for the time being are the Trustees of the charity, with all legal powers and responsibilities that that entails.
Length of Service of Committee Members:
Terms of office for the five Council appointed members and the IPEM appointed member is four years, which may be renewed by one further period of four years (i.e. a total of eight consecutive years). The term of office of the chair shall be determined by Council.
Membership
| Category | Present Member | Position |
|---|---|---|
| Appointed by Council | Tony Scott | Chair |
| Up to four Members appointed by Council* | Penny Endersby (Oct 2007) Brian Manley (Oct 2000) Howard Watson (May 2000) David Weaver (Oct 2002) | Committee Members |
| President | Peter Saraga | ex officio |
| Honorary Secretary | John Beeby | ex officio |
| Honorary Treasurer | Colin Latimer | ex officio |
| One member nominated by IPEM | Roland Blackwell (April 2004) | Committee Members |
| Chief Executive | Robert Kirby-Harris | In attendance |
| Group Finance Director | Sean Fox | In attendance |
| Appointed by Committee | Sue McGoldrick | Secretary |
* The rules for the Benevolent Fund indicate that up to three members should be nominated by the Institute Council and up to two by the IPEM. This does not match the current situation, where there are five Institute Council nominees, including the Chair. The discrepancy will be remedied as soon as the terms of appointment of existing members come to and end.
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