Section 26
Authority for payment from retirement account
of National Retirement Scheme Act
ActIn forceProvision 26 of 49
Section 26
(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