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Section 5: COll.Stitlltlo'U10f th~ ·Fund.

National Housing Bank (Employees’) Pension Regulations, 2003Central Regulations · 1987

c'~)ih~ Bank shall c~ilstill~te a JITIn.cl to be ~alled'th) "National }{ousing Barik (Employees'}'p,erisioll P'lmq" uncleI' an hrevocabie trust -within} one hundred tweI).ty days fr~m-tlH~ilbtifled dale, -, '. - -:. '. ,;

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(2)- The FUIid Si1~n have',foi: its sble:purposc the provision of the paYl~~nt,-~f pension 0/ f81T1iJy pensionin accordance with tI-}eseTegtllatiol1s to the eniployee 01 his famfly, '. ;

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(3) The E3:an,k Shfl.l1be a contributor to tll~,,?tl.I1d and .5,l1all'ensure that sufficient sums are placed in it 'to' enable the trustees ~o '1na~ tIue .payments to bene:fiCiarle~ undei" these re'gti{atiolJs. . 'r:. ".

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6. LiabilHy 10 . trarisfe,f' proYid'~nt 4lni( ba1anc·e. to.'.:tha Trus( -: Th€! Barik shall,' fmmediately ,aft~l" the 'con~titution of' t1):6'Fund. Ghuse' to transfer to the Fund, th~ accllmulated 'balance .of the· contribution:Qf ',the HanIcto: the Reserve 'Ban..,l( of India . Employee,s~ Prqyidept 1!l;lld and illteiestaG¢i-uecj thereo~uptb the date of sUch'trallsfer in resp'e?t Of ey~~-ye!l1ploye'~;f?;0ve11lect by th~s~?eg?Iatfo:pS. . : ' .'. .

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Where this provision sits

ActNational Housing Bank (Employees’) Pension Regulations, 2003
Section5
Marginal noteCOll.Stitlltlo'U10f th~ ·Fund.
JurisdictionCentral
StatusIn force as published by the source

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