Akta Pencen Pihak Berkuasa Berkanun Dan Tempatan 1980

Statutory and Local Authorities Pensions 15 (3) Notwithstanding subsection (1), all contributions made by an employer in respect of each pensionable employee at the rate set out in the Second Schedule of the Statutory and Local Authorities Superannuation Fund Act 1977 up to 31 December 1980 shall be deemed to have been properly made. (4) Where the amount of monthly contributions which an employer is liable to pay in respect of all pensionable employees is not paid within the period prescribed in the regulations, the employer shall be liable to pay interest on such amount at the rate of half per centum in respect of each month or part of a month after the expiration of such period during which such amount remains unpaid except that interest shall only be collected for arrears incurred after 1 January 1981. (5) The Minister may, with the concurrence of the Minister of Finance, by order amend the rate under subsections (1) and (4). (6) The Minister of Finance may exempt interest which is liable to be paid under subsection (4) by the employer if he is satisfied that the delay is not due to a wilful act or is due to an act which is beyond the control of the employer. Grant of pensions, etc . 9. (1) A pensionable employee may be granted a pension, gratuity or other benefit on— (a) compulsory retirement under section 10; (b) retirement under section 11; or (c) optional retirement under section 12 after completing a period of not less than ten years‟ reckonable service. (2) A pensionable employee may be granted a pension, gratuity or other benefit if the retirement is under section 13.