| (1) |
Notwithstanding anything to the contrary contained in any law the Minister may make regulations relating to— |
| (a) |
[Section 8(1)(a) deleted by section 11(a) of the Pension Laws Amendment Act, 1986 (Act No. 106 of 1986), Notice No. 1963, GG10452, dated 19 September 1986] |
| (b) |
the payment of contributions to the Fund and the payment of annuities and benefits from the Fund to or in respect of members on their retirement, discharge, resignation or death; |
and generally for the better achievement of the objects and purposes of this Act.
| (2) |
Without prejudice to the generality of the provisions of subsection (1) such regulations may— |
| (a) |
provide for the exercise or performance by the Director-General or the Minister responsible for public service and administration, of such powers or functions as the Minister may deem necessary for the achievement of the objects of this Act. |
[Section 8(2)(a) substituted by section 10(a) of the Financial Matters Amendment Act, 2023 (Act No. 09 of 2023), Notice No. 3651, GG48917, dated 7 July 2023 - effective 14 July 2023 per Notice No. 3683, GG48962 dated 14 July 2023 (section 21(2))]]
| (b) |
prescribe the circumstances in which and the basis and conditions subject to which any period which is not a period of pensionable service may be reckoned as pensionable service and the amount, including interest, which shall be paid to the Fund in respect of such period by the member concerned or any other person or from revenue, and the times at which and the manner in which such amount shall be so paid; |
| (c) |
prescribe the circumstances in which and the basis and conditions on which a member of the Fund may be transferred to any other pension fund or provident fund referred to in the regulations as a member of such other pension fund or provident fund or in which or on which a member of any such other pension fund or provident fund may be transferred to the Fund as a member, and the amount, including interest, which shall be paid from or to the Fund by the member concerned, the other pension fund or provident fund or the Fund in respect of such transfer, and the manner in which such amount shall be calculated and paid; |
| (d) |
determine the contributions, interest or other amounts which shall or may be paid to the Fund from revenue, and the circumstances in which and the basis and conditions on which and the manner in which the said contributions, interest or other amounts shall be calculated and shall or may be paid to the Fund; |
| (e) |
determine the annuities or benefits payable from the Fund to members or their widows or dependants or the prescribed persons in respect of the pensionable service of members in the prescribed cases or categories of cases, and the manner in which such annuities or benefits shall be calculated and the times at which and the manner in which such annuities or benefits shall be paid; |
| (f) |
provide for the investment of amounts standing to the credit of the Fund; |
| (g) |
provide for the conditions on which a member who is seconded to employment in respect of which he is not liable to contribute to the Fund may continue to contribute to the Fund and receive an annuity or benefit from the Fund; |
| (h) |
determine formulae or provide for the approval by the Minister of formulae for the calculation of benefits or other prescribed amounts; |
| (i) |
provide for the exercise or performance by the Secretary, the Treasury or the Public Service Commission, of such powers or functions as the Minister may deem necessary for the achievement of the objects of this Act. |
| (3) |
Notwithstanding the provisions of subsections (1) and (2), the regulations made thereunder may provide that any annuity which is payable thereunder may be supplemented by an amount which the Minister may from time to time determine in a written notice to the Director-General, or that such annuity shall in a specified case not be less than an amount so determined. |
[Section 8(3) substituted by section 10(b) of the Financial Matters Amendment Act, 2023 (Act No. 09 of 2023), Notice No. 3651, GG48917, dated 7 July 2023 - effective 14 July 2023 per Notice No. 3683, GG48962 dated 14 July 2023 (section 21(2))]]
| (4) |
Different regulations may be made under this section in respect of members who belong to different categories. |
| (5) |
Any regulation, except a regulation which amends existing regulations and increases the rate at which members shall contribute to the Fund or reduces the amount of an annuity payable from the Fund, may be made with retrospective effect |
| (6) |
Regulations made under this section shall be made by the Minister after consultation with the Ministers responsible for public service and administration, higher education and training, and communications and digital technologies. |
[Section 8(6) substituted by section 10(c) of the Financial Matters Amendment Act, 2023 (Act No. 09 of 2023), Notice No. 3651, GG48917, dated 7 July 2023 - effective 14 July 2023 per Notice No. 3683, GG48962 dated 14 July 2023 (section 21(2))]]
Non-Profit Organisations Act, 1997
