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Government Employees Pension Law, 1996

Schedule 1 : Rules of the Government Employees Pension Fund

20. Compensation to the fund on retirement or discharge of a member prior to attainment of the member's pension-retirement date


Without detracting from the generality of section 17(4) of the Law, the Government or the employer or the Government and the employer shall, if a member, except for a reason in rule 14.1.1(a), retires, accepts a voluntary severance package offered to him or her or is discharged prior to his or her pension retirement date and at such retirement, acceptance of voluntary severance or discharge in terms of the rules becomes entitled to the payment of an annuity or gratuity or both an annuity and a gratuity in terms of the rules, and any of these actions result in an additional financial liability to the Fund, pay to the Fund the additional financial obligation as decided by the Board acting on the advice of the actuary. Such payment to the Fund, with interest to account for any delay in payment, shall be in accordance with a schedule approved by the Board.