Main Content
Presentation
The FRR is a publicly owned, state-funded agency governed by an Executive Board and a Supervisory Board.
Consistent with its stated purpose and in light of the volumes of funds it manages, the FRR has set up structures of management and government intended to ensure:
- Independence: This spirit is reflected in the Fund’s status, as well as in the fact that all reserves are allocated to its sole purpose, which is to consolidate the PAYGO system by 2020.
- Transparency: Due to the nature of the Fund’s resources, its strategy and financial statements must be disclosed to the public at regular intervals. The process of awarding management mandates for the Fund’s assets is conducted in compliance with official government regulations on public bidding and requests for proposals (RFPs).
- Close involvement of labor and management stakeholders and legislators in the operation of the FRR, via its Supervisory Board.