Section 9
Membership of Scheme
of National Retirement Scheme Act
(1)
On the date of commencement of this Act, any employee and member in an ordinary account or a SCP account in respect of whom this Act applies shall —
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(a)
cease to be a member under the Employee Trust Act
(Chapter 167) or Supplemental Contributory Pensions Trust Order,
2009 (S 58/2009) at such period as the Board may determine and shall cease to accrue benefits thereunder; and
(b)
become a member of the Scheme.
(2)
On the date of commencement of this Act, any amount standing to the credit of the members in an ordinary account and a SCP account shall be transferred to —
(a)
a member account —
(i)
member’s principal contributions;
(ii)
member’s and employer’s voluntary contributions; and
(iii)
self-employed person’s contributions; or
(b)
a retirement account —
(i)
employer’s principal contributions;
(ii)
self-employed person’s contributions; and
(iii)
Government’s contributions under sections 8(10), 9(4)
and 18 of the Supplemental Contributory Pensions
Trust Order, 2009 (S 58/2009).