Protection of Businesses Act, 1978
R 385
Associated Institutions Pension Fund Act, 1963 (Act No. 41 of 1963)3A. Payment of pension benefits to members whose services are terminated |
If—
| (a) | the services of a member of the fund who has more than ten years' pensionable service to his credit are terminated at an associated institution—, |
| (i) | on account of the abolition of his post or reduction of staff at the institution; |
| (ii) | on the ground that his termination of service will promote efficiency or economy in the institution; or |
| (iii) | on account of unfitness for his duties or incapacity to carry them out efficiently; |
| (b) | the associated institution concerned undertakes in writing to compensate the fund for the prescribed annuity paid to the member up to the last day of the month in which he attains the age on which he would have had the right to retire on pension had his services not been so terminated; and |
| (c) | the Minister deems it expedient that the prescribed annuity and gratuity be paid to the member, the prescribed annuity and gratuity shall be paid by the fund to such member. |
[Section 3A inserted by section 3 of the Pension Laws Amendment Act, 1990 (Act No. 117 of 1990), Notice No. 1619, GG12639, dated 13 July 1990]
