Section 54
Notwithstanding anything to the contrary contained in any other written laws —
of National Retirement Scheme Act
(a)
no sum deducted from the wages of a member of the Scheme under this Act;
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(b)
no amount payable by the employer as his contribution; and
(c)
no amount standing to the credit of a member of the Scheme, shall be assignable, transferable, attached, sequestered or levied on for, or in respect of, any debt or claim and shall not be subject to any set-off of any nature for any debt owing by the member and if the member is adjudicated a bankrupt by a court, it shall not pass to the Official Assignee on the bankruptcy of the member and is deemed not to form part of the property of the member.
Transitional provisions 55.
The provisions of Schedule 3 shall have effect for the purpose of the transfer of moneys and dues, employees and for other transitional purposes specified in that Schedule.
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