National Retirement Scheme Act · s 26

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s 26Authority for payment from retirement account

(1)

Where a member has attained the minimum retirement age and on application by the member, there shall be paid to him monthly amount of at least $500 and such member shall receive such monthly payment until such amount is expended or for a period of 20 years.

(2)

Where a member dies, there shall be paid to the administrator nominee the balance of amount in the member’s retirement account.

National Retirement Scheme 28