Files
Attachment | Size |
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a6-07.pdf | 547.41 KB |
6 of 2007
The Transnet Pension Fund Amendment Act 6 of 2007 intends:
- to amend the Transnet Pension Fund Act, 1990, so as to-
- delete or amend certain definitions and to define certain expressions;
- provide for the continued existence of the Transnet Pension Fund under the new name of the Transport Pension Fund;
- reflect the new status of the Transport Pension Fund as a multi-employer defined benefit fund;
- enable the continued membership of the Transnet Retirement Fund for those of its members who ceased to be employed by a Transnet employer and become employed by an alternative employer;
- provide for the creation of subfunds in the Transport Pension Fund;
- provide that general rules will determine the governance and management of the Transport Pension Fund;
- provide that special rules will determine contributions, obligations and benefits applicable to members of a subfund;
- provide for the establishment of subfund boards;
- provide for the valuation of each subfund;
- provide for the deduction from benefits of amounts payable in terms of maintenance orders;
- protect the special tax status of the Transport Pension Fund; and
- empower the Minister to make regulations; and
- to provide for matters connected therewith.
Commencement
1 November 2005