Retirement Fund (Administration) (Amendment) Regulations 2016
C
T
RETIREMENT FUND (ADMINISTRATION)
(AMENDMENT) REGULATIONS 2016
Retirement Fund (Administration) (Amendment)
Regulations 2016 Arrangement of Sections
to
Page 3
C
T
RETIREMENT FUND (ADMINISTRATION)
(AMENDMENT) REGULATIONS 2016
Arrangement of Sections
Regulation
1 Short title, interpretation and commencement ....................................................... 5
2 Regulation 8 replaced ............................................................................................ 5
Retirement Fund (Administration) (Amendment)
Regulations 2016 Regulation 1
to
Page 5
C
T
RETIREMENT FUND (ADMINISTRATION)
(AMENDMENT) REGULATIONS 2016
RETIREMENT FUND ACT 1998
IN EXERCISE of the powers conferred by section 12 of the Retirement Fund
Act 1998, His Majesty's Cabinet hereby makes the following regulations —
1 Short title, interpretation and commencement
(1) These Regulations may be cited as the Retirement Fund (Administration)
(Amendment) Regulations 2016.
(2) In these Regulations, the Retirement Fund (Administration) Regulations 1999,
as amended, are referred to as the Principal Regulations.
(3) These Regulations shall come into force on 1 July 2016.
2 Regulation 8 replaced
The Principal Regulations is amended by repealing regulation 8 and replacing it with
the following -
“8 Fees and Insurance Premiums
(1) The costs incurred in the administration of the Fund and the Fund
Board shall be deducted from the investment income resulting
from the Fund's investment activities prior to declaring the fund
earning rate.
Regulation 2
Retirement Fund (Administration) (Amendment)
Regulations 2016
Page 6
to
(2) Any insurance premiums required to be paid by the
members shall also be deducted from investment income
resulting from the Fund's investment activities prior to
declaring the fund earning rate.”.
Made at Nuku'alofa this 12th day of April 2016.
Palenitina Langa’oi
Secretary to Cabinet
