The board of directors

The National Pension Insurance Office is responsible for managing pension insurance. It is managed by a board of directors.

Composition

In addition to the president, who is a civil servant appointed by the Grand Duke, the board of directors comprises:

• eight representatives of private sector employees, appointed by the Chamber of Employees,
• one representative of the self-employed appointed by the Chamber of Commerce,
• one representative of the self-employed appointed by the Chamber of Trades,
• one representative of the self-employed appointed by the Chamber of Agriculture,
• four representatives of employers appointed by the Chamber of Commerce,
• one representative of employers appointed by the Chamber of Trades.

There are as many substitute members as there are full members.

Decisions are taken by majority vote. In votes, each delegate has a number of votes weighted according to the number of insured persons falling within the remit of the various professional chambers and their sub-groups. Employers' delegates, together with delegates of insured persons who are self-employed, have the same number of votes as delegates of insured persons who are employees. The same applies to the president. The number of votes held by the employer delegates and the president is recalculated at the beginning of each meeting of the board of directors, taking into account actual attendance.

Allocations

The board of directors manages the CNAP in all matters not delegated to another body by law or the regulations. In particular, it is responsible for:

• drawing up the internal regulations of the CNAP,
• deciding on the annual budget,
• deciding on the annual statement of income and expenditure and the balance sheet,
• deciding on statutory benefits within the limits of the law and regulations,
• taking decisions concerning the CNAP staff.

Any claim by the insured person relating to a benefit payable by the fund is decided by a decision of the president or their deputy. This decision is final in the absence of a written objection from the person concerned within forty days of notification. The objection is disposed of by the board of directors.

The board of directors as at 16.09.2024