25Payments to the Board

25 Payments to the Board

S. 25(1) amended by No. 46/1998

(1) With the approval of the Minister the Board must determine the contributions to be paid to the Board by the employer of each member who is a contributor or the last employer of each pensioner or deceased member where as a result of the member's death the Board pays benefits to the deceased member's dependents.

S. 25(1A) inserted by No. 84/1998
s. 42.

(1A) Subsection (1) does not apply in respect of a member who has ceased making contributions because of section 23(4).

(2) Contributions under subsection (1) may be calculated—

(a) as a percentage of the salary of a member; or

(b) as a proportion of pensions being paid; or

S. 25(2)(c) substituted by No. 120/1994 s. 44.

(c) as a fixed amount; or

S. 25(2)(d) inserted by No. 120/1994 s. 44.

(d) by any combination of the method specified in paragraphs (a), (b) and (c).

(3) Contributions under subsection (1) are for the purpose of—

(a) paying benefits due to members in accordance with the Act after allowance is made for that proportion provided by member's contributions and interest; and

(b) meeting the costs of administering the Fund and the Act.

(4) The Board must give each employer notice in writing of contributions fixed under subsection (1) at least one month before the contributions are to take effect.

S. 25(5) inserted by No. 4/1996 s. 96.

(5) In this section, employer means—

(a) an employer within the meaning of the definition of employer in section 2(1); and

(b) any other person, authority or body declared by the Minister by notice published in the Government Gazette to be an employer in respect of a member specified in subsection (1) or of a pensioner or a beneficiary.

S. 25(6) inserted by No. 4/1996 s. 96.

(6) The Minister may by notice published in the Government Gazette declare a class or classes of employer for the purposes of subsection (5).

S. 25A inserted by No. 9400 s. 11.