Who is an Administrator?
Administrator means a person appointed by trustees to administer a scheme in accordance with the terms and conditions of service specified in the instrument of appointment.
Company incorporated under the Companies Act which is empowered underwritten law, memorandum of association or any other instrument constituting it or defining its powers to carry out administration services.
Roles of administrator;
- To carry out daily administration of the affairs of the scheme in accordance with the terms and conditions of service specified in the instrument of appointment.
- To liaise with the trustees, the Authority, the Department for the time being responsible for collecting domestic taxes and the scheme service providers in the course of administration of the scheme;
- To offer advisory and training services to the trustees, members on their rights and obligations in the scheme;
- To avail the required data of the scheme to the service providers to enable preparation of statutory returns to the Authority;
- To submit or cause to be submitted required statutory returns to the Authority;
- To compute and pay benefits to the members and their beneficiaries directly as provided for in the law and the scheme rules;
- To prepare the scheme budgets, cash flows and liquidity requirements as may from time to time be required;
- Where required, to offer secretarial services to the Board of Trustees by organizing meetings, issuing notices for the same and taking minutes during the meetings;
- To advise the trustees to ensure that the manager is investing the scheme funds in compliance with the provisions of the Act, the Regulations, scheme trust deed and rules and other relevant legislation in force
- PPF Pension Fund
- Jubilee Life Insurance Corporation of Tanzania Ltd