IS AN EMPLOYER IN THE PRIVATE SECTOR OPERATING ADEFINED BENEFIT SCHEME REQUIRED TO OPEN RSAs FOR HISEMPLOYEES AND CREDIT ACCRUED PENSION RIGHTS?

Any company operating a defined benefit scheme that is desirous of
continuing the scheme must, in addition to satisfying other conditions
specified in the Act, open RSAs so that the pension funds can be held
by a custodian. Computation of the accrued pension rights to be
credited to the RSAs shall be done by actuarial valuation.




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