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Approval of  Occupational Pension Schemes

Short Description:
Approval of the occupational pension scheme for purpose of paying retirement benefits to workers.

Full Description
A company or an employer is required to submit the rules to the Ministry for approval. This is after the employer has agreed with the union (workers) to set up the scheme and has developed the pension rules. In approving the establishment of the scheme, the Ministry ensures that the rules and benefits payable under the scheme do not disadvantage the worker or inferior to the benefits provided for in the regulation on the matter. Category
Promotion of Decent Work

Supporting documents
The Statutory Instrument No.2 of 2011

The Minimum Wages and Condition s of Employment Act

Regulation number 8 (2)