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Government Employees Pension Law, 1996

Schedule 1 : Rules of the Government Employees Pension Fund

4. Management of the fund

4.18 Actuarial valuations


4.18.1 The Fund is valuated at least every three years by the actuary and the actuary reports thereon to the Board.


4.18.2 A copy of the actuary's report, which contains recommendations in respect of any surplus or deficit existing in the Fund on the valuation date, must be submitted to the Board within such period as prescribed by the Board. The actuary's report must comply with the provisions of section 16 of the Pension Funds Act, 1956 (Act No. 24 of 1956).


4.18.3 The Board submits a copy of the actuary's report referred to in rule 4.18.2 to the Minister within 21 days of the receipt of such report.