Utilization of the Fund

Finance202513 sections

Statutory text

(1) The Fund shall be used to meet the requirements of pension payments by the Government.
(2) In the event that the growth in pension payments exceeds twenty percent (20%) in any Financial Year, the excess over and above the twenty percent (20%) threshold may be met from the Pension Fund. The Government shall continue to fund upto twenty percent (20%) growth in pension payments from the Consolidated Fund of the State.
(3) The Government may, if it considers necessary in any Financial Year, utilise an amount not exceeding ten percent (10%) of the annual returns on investments of the fund accrued in the immediately preceding financial year towards pension payments.

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