THE CONSTITUTION OF THE METROPOLITAN LIFE WELFARE ASSOCIATION (MLWA)

JANUARY, 2009

PREAMBLE

In pursuance of our common good, as staff of Metropolitan Life Insurance Ghana, and in keeping with the principle of being each others brothers keeper, we the staff of Metropolitan Life Insurance Ghana, do hereby accept to constitute ourselves into an Association, herein called METROPOLITAN LIFE WELFARE ASSOCIATION (MLWA). The Association shall serve as the platform for engendering greater co-operation amongst staff and the collective well-being of all the employees of Metropolitan Life Insurance Ghana. The overriding objective of the association is to promote the social welfare of all staff.

Wherefore, we, the members of the MLWA, on this 1st Day of January, 2009, do hereby adopt this document, herein called the Constitution, to guide the operations of the MLWA, in the promotion of the general welfare of staff, as established in this Constitution.

The following specific provisions will therefore be applicable in their relevant contexts:

1.

NAME & MEMBERSHIP

1.1

The Association shall be known and called.. METROPOLITAN LIFE WELFARE ASSOCIATION (MLWA)

1.2

All current employees of Metropolitan Life Insurance Ghana are automatic members of the association.

1.3

Compulsory membership is also extended to any future employee of Metropolitan Life Ghana.

1.4

All members shall be required to complete a membership form, in order to validate their membership.

2.

OBJECTIVES

2.1

The decision to constitute this Association is a response to the need to promote the social welfare of all staff; hence the objectives of the Association are as follows:

Promote the individual and group well-being of members Support staff in times of need Strengthen partnerships and relationships within and between staff Promote the principle of Care and Share

We believe that the above objectives will enhance our core values. Our values include; concern for people, openness and honesty, co-operation and team-work.

3.

MANAGEMENTS COMMITMENT

3.1

Management recognizes that employees are its most valuable resources and that their welfare is essential in achieving the corporate vision of Creating prosperity for Africas people.

3.2

Management also recognizes that the well-being of all staff is of primary concern, and that investment in the health and welfare of staff is an investment in the efficiency and effectiveness of the company. It is therefore committed to providing a caring and supportive working environment that is conducive to the overall welfare of all employees, and which enables them to develop their full potential.

4.

ADMISSION & SUBSCRIPTION FEE

4.1

Upon the coming into force of this Constitution, new members shall be required to pay GH 2.00

as subscription fee. This amount may be varied at the discretion of the Executive Committee.

4.2

All members shall be required to pay a monthly contribution (dues) of GH 5.00, to be deducted at source.

4.3

The Welfare Committee shall in consultation with management have the right to increase the monthly dues as and when necessary and charge additional subscription from members to facilitate relevant activities (e.g. games and other events) that inures to the benefit of members. This is however subject to the approval of Two-Thirds majority of all members (i.e. members present at a staff durbar).

5.

TERMS & CONDITIONS

5.1

An individuals membership of the association shall cease automatically if s/he fails to pay his/her dues for three consecutive months. Invariably, the individual shall also forfeit all benefits that may fall due to him/her within the period of inactivity. However, membership shall be revived only after payment of all arrears (i.e. on account of all dues outstanding) plus a nominal fine as may be prescribed by the Welfare Committee.

6.

COMPOSITION & DUTIES OF THE WELFARE COMMITTEE

6.1

The Welfare Committee shall be made up of 7 members, constituting a;

Chairman

: Who shall preside over all meetings of the Association. : Who will preside over meetings in the absence of the Chairman.

Vice Chairman

Secretary : Who shall be the Chief Scribe and administrator of the Committee. Financial Secretary : Responsible for managing the treasury of the Association. Three Others : Perform duties as may be directed by the Chairman or Secretary

6.2

The Welfare Committee shall meet at least once in every two months. A notice of three days shall be necessary to call an ordinary meeting whereas no notice shall be necessary for an emergency meeting.

6.3

The quorum for ordinary meetings of the Welfare Committee shall be two-thirds of the total membership thereof, whereas no quorum shall be necessary for an emergency meeting. Any member who absence him/herself from three consecutive meetings of the committee (without permission from either the Chairman or Secretary) shall be removed from the committee and notified in writing thereof. However, such actions shall require the approval of the rest of the committee members.

6.4

The Welfare Committee shall be responsible for the day-to-day management of the affairs of the association and shall have the power to expend appropriately and judiciously, the funds available for conducting the activities of the association. However, the Association shall not contract loans or incur liabilities in conducting its activities.

6.5

The Welfare Association shall provide the following financial or other relevant assistance all members without discrimination:

Marriage (engagement & wedding) The Association shall give an amount of GH300.00 (two hundred cedis) or its equivalent to the particular member.

Child Birth (out-dooring) The Association shall give an amount of GH100.00 (fifty cedis) or its equivalent to an individual member. However, this benefit is limited to a maximum of three children.

Death (funeral) A member shall be entitled to GH 150 (one hundred and fifty cedis) upon the death of the particular member, his/her spouse, parents (only 2 allowed) and/or children (up to 3).

6.6

The Welfare Committee reserves the right to review the donations where necessary, and inform members of the association accordingly.

6.7

In addition to the donations, the Association shall facilitate staff representation and attendance at the relevant events (especially in the cases of funeral and marriage).

6.8

Members retiring or separating from the company (by extension the Association) after a minimum of 5 years dedicated service to the Company or the Association shall be entitled to a severance package. The constitution of the package shall however be determined by the Executive Committee of the Association. The committee shall reserve the power to vary this provision as it may deem relevant.

6.9

The committee reserves the right to review the current benefit package as it may deem necessary. In this regard, the committee may also from time-to-time, determine new benefit packages for members.

7.

KEEPING & AUDITING OF ACCOUNTS

7.1

The Association shall ensure accurate record-keeping and accounting. This includes quarterly, half-yearly or annual report.

The Financial Secretary of the Welfare Committee shall be in charge of the finances of the Association and shall have the right to, in consultation with the companys Head of Finance and or other stakeholders engage in economic ventures that will benefit the association.

7.2

The Internal Auditor shall be responsible for auditing the accounts of the association, on annual bases, and submit a report thereof to the committee and management respectively.

7.3

The Internal Auditor or any other person authorized by him/her may, for the purpose of auditing accounts in accordance with subsection(2), investigate all records, credentials, monies; in cash or deposit with any bank, securities, stocks or other kinds of assets of the Association.

8.

AMENDMENT CLAUSE

8.1.1

This Constitution is subject to review and amendment as and when the need arises.