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Employees Pension Scheme

Section 27: Disposal of the Fund

(1) Subject to the provisions of the Act and this Scheme, the Fund shall not, except with the prior sanction of the Central Government be expended for any purpose other than the payments envisaged in this Scheme; for continued payment of Family Pension, life assurance benefit and retirement-cum-withdrawal benefits sanctioned under the Employees Family Pension Scheme, 1971, prior to the date of introduction of this Scheme or which may be sanctioned under that Scheme after the 16th November, 1995 in respect of cases arising before that date.

(2) All administrative expenses shall be met from the Central Administration Account as specified in paragraph 49 of the Employees Provident Fund Scheme, 1952. However, the cost of remittance of pension shall be charged on the Pension Fund.