Provident Fund (Local Governments) Act

Section 1. Interpretation Section " board " means the Board of Management established by regulations made under section 2 in respect of a provident fund established under this Act;

Section 2. Establishment, etc. of thefund Section 2(1) The President may make regulations for the establishment, maintenance and management of a provident fund for nonpensionable servants in the service of local governments generally in relation to such a provident fund and, in particular, but without prejudice to the generality of the foregoing provisions, may make regulations with respect to any of the following matters— Section 2(1)(a) the establishment and management of the fund ; Section 2(1)(b) the establishment, duties and functions of the Board of Management; Section 2(1)(c) the qualifications and descriptions of depositors; Section 2(1)(d) the amount which contributing governments shall pay into the fund by way of bonus and the manner in which the bonus shall be paid; Section 2(1)(e) the rate at which interest on deposits and bonus shall be paid into the fund by contributing governments and credited to depositors and the manner of calculating the interest and bonus ; Section 2(1)(f) the amounts which depositors shall be required to pay into the fund ; Section 2(1)(g) the payment into the fund of increased contributions by both contributing governments and depositors in respect of service prior to the establishment of the fund ; Section 2(1)(h) prescribing the manner in which accounts of depositors shall be opened and closed and providing for notification to individual depositors of the amounts standing to their credit in the fund ; Section 2(1)(i) the procedure to be followed with regard to the disposal of amounts standing to the credit of depositors in the event of their death, termination of service, resignation or dismissal or transfer to pensionable posts; Section 2(1)(j) providing for the disposal of amounts standing to the credit of depositors who have failed to claim the amounts within a prescribed period; Section 2(1)(k) the payment of deposits in respect of previous service and of bonus on the deposits as if the deposits were deposits required to be made by the regulations; Section 2(1)(l) enabling depositors transferred to pensionable posts to elect with regard to payments of deposits, bonus or interest or any part thereof and the length of service to count for pension. Section 2(2) The regulations in the Schedule to this Act shall be deemed to have been made under the powers conferred by subsection (1).

Section 3.Eastern Province Provident Fundto become part of thefund Section 3(1) On the establishment of the fund , the Secretary to the Treasury shall pay into the fund all monies in the Eastern Province Provident Fund , and those monies shall become part of the fund with effect from the date of payment into the fund . Section 3(2) Contributing governments and depositors to the Eastern Province Provident Fund shall be deemed to have been contributing governments and depositors to the fund with effect from the date they first contributed to or deposited in the Eastern Province Provident Fund . Section 3(3) With effect from the date on which the Eastern Province Provident Fund monies are paid into the fund , all rights and liabilities under the fund shall be regulated by this Act and of any regulations made under this Act.

Section 4. Power of local governments to join thefund Section 4(1) When any local government considers that it would be in its interest and in its nonpensionable servants' interest that its nonpensionable servants should become depositors in the fund , the local government may with the approval of the board become a contributing government with effect from such date as the board shall fix. Section 4(2) With effect from the date that a local government becomes a contributing government , the government and its nonpensionable servants shall be bound by this Act and of any regulations made under this Act.

Section 5. Deductions of deposits from salary Section Deductions of the amounts depositors are required to deposit in the fund may be made from the salaries of depositors and shall be deemed to have been paid into the fund on the last day of the month in respect of which the salaries, from which deductions are made, are due.

Section 6. Audit and publication of accounts of thefund Section The accounts of the fund shall be audited annually by the Auditor General and shall be published in the Gazette .

Section 7. Amounts in hand not assignable or liable to attachment Section 7(1) No deposit, bonus or interest on any such deposit or bonus shall be assignable or transferable or liable to be attached, sequestered or levied upon for or in respect of any debt or claim other than as provided for in subsection (2). Section 7(2) Any sum or sums due by a depositor to a contributing government may be deducted from the amount standing to his or her credit in the fund on the closure of his or her account.