1. To set forth an investment structure for managing all Fund assets. This structure includes various asset classes, investment management styles, asset allocation and acceptable ranges that in total are expected to produce a sufficient level of overall diversification and total investment return over the long term.
  2. To provide guidelines for each investment portfolio that control the level of overall risk and liquidity assumed in that portfolio, so that all Fund assets are managed in accordance with stated objectives.
  3. To encourage effective communication between the Board, Management and any investment consultants the Fund may contract.
  4. To establish formalized criteria to monitor, evaluate and compare the performance results achieved by Management on regular basis.
  5. To maintain a fully funded status with regard to accumulated benefit obligations, and to achieve a fully funded status with regard to the projected benefit obligations.
  6. To have the ability to pay all benefits, and expense obligations when due.
  7. To maintain a funding cushion for unexpected developments, possible future increase in benefit structure and expense levels, and a reduction in the expected return on investment or interest rate assumptions.
  8. To maintain flexibility in determining the future level of contributions.
  9. To control costs of administering the Fund and managing the Investments.
  10. The investment Policy of the Fund takes into consideration the following investment guiding principles of investing social security funds.


ZSSF shall invest in areas that guarantee safety of the Fund’s capital.


The returns on investment should be appreciable.


ZSSF will ensure that sufficient resources are held in short-term investments to enable the Fund to meet its obligations as they become due.

Economic and social utility

It is in the interest of the Fund to ensure that some of the funds are invested in such a way that they contribute to improve the health and education conditions, or the standard of living of the members.