7Establishment of the Fund

7 Establishment of the Fund

7 Establishment of the Fund

(1) The Board shall establish, and shall maintain and manage, the State Public Service Superannuation Fund.

(2) The Board shall—

(a) cause to be paid to the Fund—

(i) contributions made by employers and employees,

(ii) income derived from investment of the Fund, and any profit made from realisation of any investment of the Fund,

(iii) money borrowed for the purposes of the Fund, and

(iv) any other amounts payable to the Fund, and

(b) cause to be paid from the Fund—

(i) by transfer from the Fund to the Management Account—management costs relating to investment of the Fund as referred to in section 46 (1),

(ia) the amount of any loss made from realisation of any investment of the Fund,

(ii) the benefits payable under this Act, and

(iii) any other amounts payable from the Fund.

s 7: Am 1987 No 219, Sch 1 (4).