Post and Telecommunication-related Matters Act, 1958 (Act No. 44 of 1958)Chapter IB : Staff and Pension Matters10. Pension statutes |
| (1) | The control and management of the postal pension fund and the telecommunications pension fund, the condition for admission to and termination of membership of each fund, the amount and nature of contributions by members and contributions and other payments by the postal employer or the telecommunications employer, the benefits due to members and other beneficiaries, and the manner in which the statuses may be amended, shall be governed by the statutes of each fund, as the case may be. |
| (2) | The statutes of each fund shall be published by the Minister in the Gazette and shall come into operation on the postal transfer date in the case of the postal pension fund and on the telecommunications transfer date in the case of the telecommunications pension fund. |
| (3) | Until the date of registration of the postal pension fund and the telecommunications pension fund, as the case may be, in terms of section 10D, any amendment of the statutes of the pension fund concerned shall be subject to the approval of the Minister granted with the concurrence of the Minister of Finance. |
| (4) | The statutes of the postal pension fund and the telecommunications pension fund shall be binding on each fund as well as the postal employer and the telecommunications employer, as the case may be, and on the members and beneficiaries of each fund. |
[Section 10 inserted by section 7 of Act No. 85 of 1991]