Group Life Insurance for members and other benefits

The Committee may for the Welfare of the membersof the Fund,— (a) take from the Life Insurance Corporation of India or any other recognised Insurance Company policies of Group Insurance in the name of the members of the Fund, and (b) Provide for medical and educational facilities, and such other benefits including pension as may be prescribed for the members of the Fund and their dependents: Provided that no schemes in respect of pension shall be made by the committee, except with the prior approval of the Government.