Section 10Part 2 — Registration and Administration
Contents of pension plan
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10. (1) The document that constitutes a pension plan shall contain the following information —
the method of appointment and the details of the appointment of the administrator of the pension plan;
the conditions for membership of the pension plan;
the benefits and rights which will accrue upon —
termination of employment;
termination of membership;
normal pension entitlement; and
death;
the normal pension entitlement date under the pension plan;
the requirements for entitlement under the pension plan to any pension benefit;
the contributions and the method of calculating the contributions required by the pension plan;
the method of determining benefits payable under the pension plan;
the method of calculating interest to be credited to contributions under the pension plan;
the mechanism for payment of the cost of administration of the pension plan and pension fund together with a schedule of administration fees;
the mechanism for establishing and maintaining the pension fund;
in the case of a defined benefit pension plan, the method of dealing with surplus during the continuation and on the winding up of the pension plan;
the obligation of the administrator to provide members with information and documents required to be disclosed under this Act and the regulations;
the method of allocation of the assets of the pension on the winding up of such plan;
particulars of any previous pension plan under which members of the pension plan may be entitled to pension benefits; National Pensions Act (2024 Revision) Section 11 c Revised as at 31st December, 2023 Page 21
in the case of a defined benefit pension plan, an original or certified copy of an actuarial survey and report; and
any other prescribed information respecting the pension plan and pension fund.
Where a pension plan is established pursuant to a trust agreement, the documents constituting such agreement shall set out the powers and duties of the trustees.