Contributions to the Fund

Finance202513 sections

Statutory text

(1) The Government shall build up the Fund Corpus for the payment of future Pension payments. It will be kept in a separate fund under public account.
(2) An amount not exceeding five percent (5%) of the total pension payments made in the preceding Financial Year shall be invested annually in the Pension Fund. Provided that, subject to the availability of resources and the financial position of the Government, the State may, in exceptional circumstances, transfer an amount in excess of the said limit to the Pension Fund, as may be deemed necessary;
(3) In order to facilitate the transfer of the total amount of contribution to the Pension Fund, the Government shall make suitable budgetary provision under the Revenue Expenditure Head "2071 – Pension and other retirement benefit – 01 - Civil – 797-Transfer to/from Reserve Fund and Deposit Account- Pension Fund".

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