Cap. 514 Art. 26Technical provisions.

(1) Every retirement scheme shall:

(a) establish at all times an adequate amount of liabilities corresponding to the financial commitments which arise out of their portfolio of existing pension contracts; and

(b) where it provides cover against biometric risks or guarantees either an investment performance or a given level of benefits, establish sufficient technical provisions.

(2) The manner in which technical provisions shall apply to retirement schemes licensed under the Act may be determined by regulations prescribed for this purpose.

Retirement Funds