Namibia: When ‘Best Interest of Members’ Becomes Convenient

In pension fund governance, few phrases carry as much weight or pass with as little resistance as “in the best interest of members”. It is the standard against which decisions are justified, strategies are defended, and outcomes are explained. Yet, precisely because of its authority, it has become a phrase that is rarely examined. Increasingly, it risks being used not only as a guiding principle but also as a convenient conclusion invoked at the end of a decision, rather than tested throughout its…