Provident Fund
PROVIDENT FUND ACT
CHAPTER 23:57
LAWS OF TRINIDAD AND TOBAGO
Act
14 of 1934
*Amended by
*For the amendments to the Schedule by
subsidiary legislation see the Schedule.
†Not in operation.
L.R.O.
Current Authorised Pages
Pages Authorised
(inclusive) by L.R.O.
1–29 ..
12 of 1960
34 of 1961
36 of 1961
33 of 1966
20 of 1977
39 of 2000
30 of 1943
17 of 1944
10 of 1945
50 of 1946
2 of 1950
17 of 1951
†38 of 1952
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Index of Subsidiary Legislation
Page
Provident Fund Regulations (14 of 1934, GN 235/1971) … … … 26
Note on Subsidiary Legislation
Other subsidiary legislation made under this Act has been referred to in the Schedule to
this Act.
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CHAPTER 23:57
PROVIDENT FUND ACT
ARRANGEMENT OF SECTIONS
SECTION
1. Short title and application.
2. Interpretation.
3. Service.
4. Establishment of Fund.
5. Charge on Consolidated Fund.
6. Gratuities and bonuses not of right.
Certificates required as to conduct, etc.
7. Age of retirement.
8. Compulsory retirement.
9. Contributions to the Fund—Rate of.
Depositor seconded for service.
Date of payment.
Special account.
10. Non-forfeiture of compulsory deposits.
11. Amounts not assignable or attachable.
12. Depositors to forfeit rights under Pensions laws.
13. Employees to become depositors.
14. Validation of retroactive effect of amendments to Schedule.
15. Pensionable office declared no longer pensionable.
16. Rights of office holders under Cap. 83 (1925 Ed.).
17. Transfer from a pensionable office.
18. Transfer from a non-pensionable office.
19. Transfer to a pensionable office.
20. Cessation of contributions.
21. Bonus addition.
22. Gratuities.
23. Life assurance.
24. Selection of insurance company.
25. Application of bonus.
26. Disposal of policy at maturity.
27. Disposal of proceeds of policy at death.
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ARRANGEMENT OF SECTIONS—Continued
SECTION
28. Assignment of policy for deposits to the depositor before maturity.
29. Disposal of policy for bonuses before maturity.
30. Provisions where depositor is transferred to a pensionable office.
31. Interest.
32. Appointments.
33. Investments.
34. Salaries and expenses.
35. Forfeitures.
36. Advances.
37. Accounts of the Fund.
38. Audit.
39. Regulations.
40. Depositor transferred to service of former Central Water Distribution
Authority permitted to continue to be a depositor.
41. Provision for payment of pensions to dependants of deceased depositor
after dying while in the service of the Government.
SCHEDULE.
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CHAPTER 23:57
PROVIDENT FUND ACT
An Act to establish a Provident Fund for certain employees in
the Government Service.
[1ST AUGUST 1934]
1. (1) This Act may be cited as the Provident Fund Act.
(2) After 19th October 1961 (the date of the
commencement of the Pensions Extension Act) this Act applies
only in respect of—
(a) daily paid employees in the Service of the
Government of Trinidad and Tobago; and
(b) those persons who elect in accordance with
section 4 of the Pensions Extension Act to
continue to be depositors to the Provident Fund.
2. In this Act—
“bonus” means a sum of money added by Government to a deposit
with the interest accruing on such sum of money and deposit;
“compulsory deposit” means a deposit which an employee is
under this Act required to make to the Fund;
“depositor” means an employee by whom or on whose behalf a
deposit is made under this Act;
“employee” means a person in the service of the Government of
Trinidad and Tobago and not holding a pensionable office
in the public service of Trinidad and Tobago who under this
Act is required to become a depositor;
“Fund” means the Provident Fund;
“interest” includes compound interest;
“pensionable office” shall have the same meaning as defined in
the Pensions laws;
“wages” means monthly or fortnightly wages or salaries drawn
by an employee and includes house and personal allowances
1950 Ed.
Ch. 9 No. 9.
14 of 1934.
Commencement.
Short title and
application.
[34 of 1961].
Ch. 23:53.
Interpretation.
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but does not include overtime, subsistence, travelling,
mileage or other fluctuating or extra allowance except that
where an employee is paid at a daily rate the wages for ten
days may be accepted as the wages for a fortnight.
3. For the purpose of computing the service of a depositor—
(a) any calendar year up to the calender year ending
December 31, 1999 in which the depositor has
worked less than two hundred days (hereinafter
referred to as a non-effective year) shall be
excluded;
(aa) the period from January 1, 2000 to September
30, 2000 in which the depositor has worked less
than one hundred and fifty days (a non-effective
year) shall be excluded;
(ab) any financial year from the financial year
commencing October 1, 2000 in which the
depositor has worked less than two hundred days
(a non-effective year) shall be excluded;
(b) three consecutive non-effective years shall be a
bar to the inclusion of any previous year;
(c) an aggregate of seven non-effective years shall
be a bar to the inclusion of every year of service
prior to the earliest of the years making up such
aggregate;
(d) service while under the age of twenty years shall
not be included,
but any previous service of an employee under the Government of
Trinidad and Tobago who may become a depositor shall be deemed
to be service for the purposes of this Act, save and except that in
the computation of gratuities payable under section 22, service
prior to his becoming a depositor shall not be included.
4. The Provident Fund established under the Provident Fund
Ordinance 1930, shall be maintained and continued for the purposes
of this Act.
Service.
[20 of 1977
39 of 2000].
Establishment of
Fund.
19 of 1930.
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5. There shall be charged upon and paid out of the
Consolidated Fund such sums as may from time to time be
granted to depositors by way of bonus or gratuity in accordance
with this Act.
6. (1) No employee shall have an absolute right to
compensation for past services either by way of bonus or gratuity
or other allowance under this Act, nor shall anything contained in
this Act limit the right of the President to dismiss any employee
without compensation.
(2) No employee shall be granted a bonus or gratuity
under this Act or a pension under section 15 without a certificate
from the head of his department that he has discharged the duties
of his employment with such diligence and fidelity as to justify
the grant to him of such bonus, gratuity or pension.
7. Except in the cases of death, abolition or re-organisation
of office, no gratuity shall be paid to any employee who has not
attained the age of fifty-five years, unless on medical evidence to
the satisfaction of the President that he is incapable by reason of
some infirmity of mind or body of discharging the duties of his
employment and that such infirmity is likely to be permanent.
This section does not apply in the case of a depositor who
voluntarily retires from the office of wardsman or attendant at the
Chacachacare Leprosarium having completed not less than ten
years continuous service as a wardsman or attendant mentioned
above immediately prior to his retirement.
8. The President may require any depositor to retire from the
service of Trinidad and Tobago at any time after he attains the age
of sixty years.
9. (1) A compulsory deposit at the rate of four per cent of his
wages or such portion of wages as is allowed under section 17(1)(b)
and section 18(1)(b) shall be made by each depositor and an
abatement at that rate shall be made by the Comptroller of Accounts
from each payment of wages of every depositor.
Charge on
Consolidated
Fund.
Gratuities and
bonuses not of
right.
Certificates
required as to
conduct, etc.
Age of
retirement.
Compulsory
retirement.
Contributions to
the Fund—
Rate of.
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(2) A depositor seconded for service in another
department shall continue to pay his compulsory deposits, based
on the full wages of his permanent employment or such portion of
wages as is allowed under section 17(1)(b) and section 18(1)(b),
into the Fund and shall participate in the benefits thereof.
(3) Compulsory deposits into the Fund, made by
abatements from wages, shall be deemed to be paid into the Fund
on the last day of the month in respect of which the wages liable to
abatements are due.
(4) The amounts of such abatements shall be carried to a
special account.
10. Compulsory deposits and interest thereon shall not be liable
to forfeiture, and, subject to section 11, shall be returnable in full
to a depositor on his retirement from the service of Trinidad and
Tobago, whether through dismissal or otherwise.
11. No deposit or the interest or bonus thereon or any gratuity
or any moneys payable in respect of life assurance effected under
this Act shall be assignable or transferable, or liable to be attached,
sequestered or levied upon, for or in respect of any claim
whatsoever, but the President may direct that any amount due to
the State by a depositor in respect of any liability or defalcation be
deducted from any amount due and payable to him.
12. Every employee who becomes a depositor shall, subject
to sections 15, 16, 17 and 18, forfeit all his rights (if any) under the
Pensions laws.
13. (1) Subject to sections 15, 16, 17 and 18, every person
appointed to an office specified in Part A of the Schedule shall be
required to become a depositor from the date of his appointment
to such office.
(2) The President may by Notification, alter and amend
Part A of the Schedule by adding thereto any other office or
removing therefrom any office included therein or added thereto.
Depositor
seconded for
service.
Date of
payment.
Special account.
Non-forfeiture
of compulsory
deposits.
Amounts not
assignable or
attachable.
Depositors to
forfeit rights
under Pensions
laws.
Employees to
become
depositors.
Schedule.
Part A.
Part A.
Schedule.
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(3) The President may by Notification, amend Part B of
the Schedule by adding the name of any depositor who he is
satisfied has inadvertently omitted to exercise the option provided
for by section 19 within the period prescribed by that section.
(4) No person who is serving as an apprentice or for any
period under special agreement or whose employment is of a casual
nature shall be allowed to become a depositor.
14. Where the President, by an amendment made by him under
section 13(2) before the commencement of this section (that is
12th October 1961), has added an office to the Schedule with
retroactive effect, the office is added with effect from the date
specified in the amendment.
15. Where a pensionable office has been declared under the
Pensions laws to be no longer pensionable and the office has been
specified in Part A of the Schedule as an office the holder of which
is required to become a depositor, any employee so long as he
continues to hold the office, whether his wages have been increased
or not, or if he is transferred to another office specified in Part A of
the Schedule carrying the same wages, shall not be required or
allowed to become a depositor. However, any pension and gratuity
for which he or his legal personal representative may be eligible
under the Pensions laws shall be preserved, and, if he is transferred
to another office specified in Part A of the Schedule carrying greater
wages, then the provisions of section 17 apply.
16. Where an office, the holder of which under the Regulations
made under the Pensions Ordinance, Cap. 83 of the 1925 Revised
Laws, was eligible for a retiring allowance at the rate of three-
fourths of the pension that would have been payable to him if he
had been the holder of a pensionable office, is specified in Part A
of the Schedule the holder of which is required to become a
depositor, any employee, so long as he continues to hold the office,
whether his wages have been increased or not, or if he is transferred
to another office specified in Part A of the Schedule carrying the
same wages, shall not be required or allowed to become a depositor.
Part B.
Schedule.
Validation of
retroactive
effect of
amendments to
Schedule.
[36 of 1961].
Pensionable
office declared
no longer as
pensionable.
Part A.
Schedule.
Rights of office
holders under
Cap. 83 (1925
Ed.).
Part A.
Schedule.
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However, any retiring allowance and gratuity for which he is
eligible under the Pensions laws shall be preserved, and, if he
is transferred to another office specified in Part A of the
Schedule carrying greater wages, then the provisions of
section 17 of this Act apply, save and except that the pension
to be awarded shall be calculated at three-fourths of the rates
set out in section 17(2)(a) and (b).
17. (1) An employee on transfer from a pensionable office in
the service of the Government of Trinidad and Tobago to an office
specified in Part A of the Schedule which carries greater wages
than those received by him immediately prior to the transfer may
at his option elect to become a depositor—
(a) on the basis of the full wages of his new
appointment and to be paid on his final retirement
from the service of Trinidad and Tobago in
addition to any benefits to which he may be
entitled from the Fund such pension and gratuity
for which he may be eligible, calculated on the
number of years’ service prior to his becoming a
depositor, based on the pensionable emoluments
he received immediately prior to his transfer; or
(b) on the basis of the difference only between the
wages of his new appointment and the wages of
the pensionable office from which he is
transferred and to be paid on his final retirement
such pension and gratuity for which he may be
eligible calculated in respect of the whole of his
service in Trinidad and Tobago on the basis of
the pensionable emoluments he received
immediately prior to the transfer together with
any benefits from the Fund to which he may
be entitled as a depositor, except that if the
employee is a contributor to the Widows’ and
Orphans’ Pensions Scheme under the provision
of the Widows’ and Orphans’ Pensions Act, he is
required to contribute to the Scheme on the basis
of the wages of the office from which he has
been transferred.
Part A.
Schedule.
Transfer from a
pensionable
office.
Part A.
Schedule.
Ch. 23:54.
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(2) Any pension awarded under subsection (1) shall be
calculated in the following manner:
(a) in the case of an employee with not less than ten
years’ service prior to his becoming a depositor,
at the rate of 180/720ths of his pensionable
emoluments in respect of his first ten years of
service and at the rate of 1/720th of his pensionable
emoluments in respect of each additional
complete month of service, provided that the
pension so awarded shall not exceed 480/720ths
of his pensionable emoluments;
(b) in the case of an employee who has not prior to
his becoming a depositor completed in the
aggregate the qualifying period of ten years, at
the rate of 1/720th of his pensionable emoluments
in respect of each complete month of service
together with an addition which shall have the
like proportion to the full addition which the
number of years he has served bears to ten years.
(3) The option referred to in subsection (1) must be
exercised in writing by the employee within one month of his
transfer and if he does not so exercise the option he shall be deemed
to have exercised the option set out in subsection (1)(b).
18. (1) Where an employee holding a non-pensionable post
in the service of the Government of Trinidad and Tobago is
appointed to an office specified in Part A of the Schedule he may
at his option elect to become a depositor—
(a) on the basis of the full wages of his employment
and to be paid on his final retirement a gratuity
calculated on the number of years’ service prior
to his becoming a depositor together with any
benefits from the Fund to which he may be
entitled as a depositor; or
(b) on the basis of the difference only between the
wages of his new employment and the wages
previously drawn by him and to be paid on his
Transfer from a
non-pensionable
office.
Part A.
Schedule.
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final retirement in respect of the whole of his
service in Trinidad and Tobago, a gratuity
calculated on the basis of the wages he received
immediately prior to his employment in an office
specified in Part A of the Schedule together with
any benefits from the Fund to which he may be
entitled as a depositor; except that if the employee
is a contributor to the Widows’ and Orphans’
Pensions Scheme under the Widows’ and
Orphans’ Pensions Act, he shall be required to
contribute to the Scheme on the basis of the wages
of the office from which he has been transferred.
(2) The gratuity to be awarded under subsection (1) shall
be calculated in accordance with the principle followed in
calculating gratuities for non-pensionable employees in the
service of the Government of Trinidad and Tobago at the date of
the appointment of the employee to an office specified in Part A
of the Schedule.
(3) The option referred to in subsection (1) must be
exercised in writing by the employee within one month of his
transfer and if he does not so exercise the option he shall be deemed
to have exercised the option set out in subsection (1)(b).
19. (1) A depositor on transfer to a pensionable office in the
service of the Government of Trinidad and Tobago may at his
option elect—
(a) to allow the total amount due to him at the date
of such transfer in respect of compulsory deposits,
bonuses and interest thereon to accumulate and
to be paid to him on his final retirement from
the service together with any gratuity in respect
of service while a depositor payable under
section 22 and any such pension and gratuity for
which he may be eligible under the Pensions laws
in respect of service in such pensionable office
and counting as pensionable only the service from
the date of the transfer to a pensionable office; or
Part A.
Schedule.
Ch. 23:54.
Part A.
Schedule.
Transfer to a
pensionable
office.
[12 of 1960].
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(b) to surrender the bonuses and interest thereon and
all rights to a gratuity under section 22 and
counting all service towards pension in
accordance with the Pensions laws and thereupon
his compulsory deposits and interest thereon shall
be refunded to him.
(2) Such option shall be exercised in writing by the
depositor within one month from the date of transfer to such
pensionable office and if he does not so exercise the option he shall
be deemed to have exercised the option set out in subsection (1)(a).
(3) Notwithstanding subsection (2), where a depositor has
exercised the option set out in subsection (1)(a) the President may,
if it appears to him equitable in all the circumstances to do so,
allow the depositor, at any time prior to the award of any sum due
to him under this Act, to revoke the option and, upon the option
being revoked, the depositor shall be deemed to have exercised
the option set out in subsection (1)(b).
20. (1) No person shall be allowed to remain a depositor
after—
(a) dismissal from the service of Trinidad and
Tobago; or
(b) voluntary or compulsory retirement from the
service of Trinidad and Tobago; or
(c) he has been without wages from the funds of
Trinidad and Tobago for a period exceeding six
months save and except in the case of illness
supported by medical evidence to the satisfaction
of the President.
(2) For the purposes of subsection (1) a person shall not
be taken to have been without wages from the funds of Trinidad
and Tobago if that person—
(a) has been granted leave of absence without pay
for a period not exceeding three years for the
purpose of engaging in trade union business
approved by the President; and
Cessation of
contributions.
[33 of 1966].
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(b) deposits a sum equivalent to the bonus required
by section 21 to be transferred by the Comptroller
of Accounts from public funds to the account of
such person.
21. (1) At the close of each month the Comptroller of
Accounts shall transfer from public funds to the account of each
depositor a bonus equal in amount to the compulsory deposit made
by him during that month provided that the bonus in respect of
any non-effective year shall be forfeited.
(2) Bonuses may be paid as mentioned below—
(a) full bonus—
(i) to a depositor who retires after reaching the
age of retirement, or who is invalided
before reaching the age of retirement;
(ii) to a depositor on compulsory retirement for
the purpose of facilitating improvement in
the department in which he is serving by
which greater efficiency or economy can
be effected;
(iii) to the nominee or legal personal
representative of a depositor who dies while
in the service;
(iv) to a depositor who voluntarily retires from
the office of wardsman or attendant at the
Chacachacare Leprosarium having
completed not less than ten years’
continuous service as a wardsman or
attendant aforesaid immediately prior to
his retirement;
(b) with the President’s approval half of the bonus—
(i) to a depositor who voluntarily retires before
reaching the age of retirement, provided
that he has had at least twelve years’
service;
(ii) to a depositor who is dismissed from the
service provided that he has had at least
Bonus addition.
[30 of 1943].
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fifteen years’ service and his conduct and
record during that service has been
otherwise satisfactory.
22. (1) A gratuity equivalent to 1/25th part of the annual wages
for each completed year of service in any office or offices specified
in Part A of the Schedule up to a maximum of one year’s wages
may be paid—
(a) to a depositor who retires after the age of fifty-
five years provided that he has completed at least
fifteen years’ service;
(b) to a depositor who has completed at least seven
years’ service and is invalided from the service
of Trinidad and Tobago before reaching the age
of fifty-five years;
(c) to a depositor on compulsory retirement for the
purpose of facilitating improvement in the
department in which he is serving by which
greater efficiency or economy can be effected,
provided that he has completed not less than seven
years’ service, and provided also that he cannot
be absorbed into any other department on the
same wages he was drawing at the time of
compulsory retirement;
(d) to the nominee or legal personal representative
of a depositor who dies while in the service of
Trinidad and Tobago and who has at least five
years’ service except that—
(i) in the case of a depositor referred to in
section 17, where the gratuity under this
subsection is less than the amount which the
legal personal representative or dependant
would have received under the Pensions
laws if the depositor had continued to be the
holder of a pensionable office, there may be
paid to the nominee or legal personal
representative or dependant of the deceased
Gratuities.
Part A.
Schedule.
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depositor in lieu of a gratuity under this
section an amount not exceeding a year’s
pensionable emoluments which the
deceased depositor had received
immediately prior to his becoming
a depositor;
(ii) in the case of a depositor referred to in
section 18, where the gratuity under this
subsection is less than the amount which
the legal personal representative or
dependant would have received under the
Pensions laws if the depositor had
continued to be the holder of a non-
pensionable post, there may be paid to the
nominee or legal personal representative or
dependant of the deceased depositor in lieu
of a gratuity under this section an amount
not exceeding nine months’ wages which
the deceased depositor had received
immediately prior to his becoming a
depositor;
(e) to a depositor who voluntarily retires from the
office of wardsman or attendant at the
Chacachacare Leprosarium having completed not
less than ten years’ continuous service as a
wardsman or attendant mentioned above
immediately prior to his retirement.
(2) In the event of a depositor being retired in consequence
of an injury received in the actual discharge of his duty and without
his own default, he may with the approval of the President be paid,
in addition to the gratuity mentioned in subsection (1), where his
capacity to contribute to his support is certified by a Government
Medical Officer to be—
slightly impaired … …
impaired … … …
materially impaired … …
totally destroyed … …
2/25ths of the annual wages.
4/25ths do.
6/25ths do.
8/25ths do.
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(3) In the event of a depositor dying as a result of an
injury received in the actual discharge of his duty and without his
own default there shall be paid, in addition to the gratuity mentioned
in subsection (1), to his nominee or legal personal representative
or dependant an additional gratuity of six months’ wages subject
to a deduction in respect of any amount that may have been paid
under subsection (2) to the depositor previous to his death, provided
that the death occurs within six months of the date of the injury.
(4) Gratuities payable under this section shall be
calculated on the actual wages on which contributions to the Fund
at the time of retirement or death were based.
(5) No gratuity under subsections (2) and (3) shall be paid
if a claim for compensation is made and allowed under the
Workmen’s Compensation Act.
(6) In this section, “Pensions laws” means the Pensions
Act and the Regulations thereunder, and any Acts or Regulations
from time to time amending or replacing the same.
23. (1) A depositor may at his option elect that his compulsory
deposits and the bonus, or his compulsory deposits only, be applied
by the Comptroller of Accounts towards the effecting of assurance
on his life, provided that the election is conditional upon the
depositor passing a medical examination to the satisfaction of a
medical practitioner appointed by the insurance company and that
his contributions can effect a policy of not less than one hundred
and twenty dollars.
(2) The option referred to in subsection (1) shall be
exercised in writing by the depositor within three months of his
becoming a depositor, but any depositor may subsequently in
special circumstances be allowed with the approval of the President
to exercise the option. Where the depositor elects to have his
compulsory deposits and the bonus, or his compulsory deposits
only, applied towards the effecting of assurance on his life the
election shall be irrevocable.
(3) Separate policies shall be taken out in respect of
compulsory deposits and bonuses.
Ch. 88:05.
Ch. 23:52.
Life assurance.
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LAWS OF TRINIDAD AND TOBAGO
18 Chap. 23:57 Provident Fund
24. Any assurance effected shall be under an endowment
assurance policy in favour of the Comptroller of Accounts effected
with such company or companies as may be selected by the
President and upon such terms and conditions as may be embodied
in the assurance policy.
25. Any bonus declared by an insurance company shall in
every case be allowed to augment the policy and become payable
together with the capital sum at the maturity of the policy or at the
time of the surrender of such policy as provided below and shall
not be used in reduction of premiums.
26. Should any policy of assurance mature before the date
of retirement from the service of any depositor the amount of
the proceeds of such policy shall at the option of the depositor
to be exercised in writing within one month of the maturity of
the policy be—
(a) held on deposit by the Comptroller of Accounts
for the account of the depositor, in which case
the amount shall bear interest at the prescribed
rate; or
(b) re-invested in assurance,
except that if the option is not exercised within the prescribed period
the depositor shall be deemed to have exercised the option set out
in paragraph (a).
27. All moneys received by the Comptroller of Accounts under
any policy of assurance on the life of a depositor who dies while in
the service shall, after payment thereout of any costs of recovering
the moneys and any liability due by the depositor to the State, be
paid to the depositor’s nominee, if one has been appointed, or in
the absence of such an appointment to his legal personal
representative.
28. Where a depositor elects that his compulsory deposits shall
be applied towards the effecting of an assurance policy on his life
he is not entitled to a refund of his deposits as contemplated by
Selection of
insurance
company.
Application of
bonus.
Disposal of
policy at
maturity.
Disposal of
proceeds of
policy at death.
Assignment of
policy for
deposits to the
depositor before
maturity.
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LAWS OF TRINIDAD AND TOBAGO
Provident Fund Chap. 23:57 19
L.R.O.
section 10 and section 19(1)(b) so long as a policy of assurance is
subsisting, but in the event of his retirement from the service,
whether through dismissal or otherwise, before the maturity of the
policy of assurance the Comptroller of Accounts shall assign the
policy to the depositor subject to any liability due by the depositor
as contemplated by section 11.
29. Where a depositor elects that the bonus shall be applied
towards the effecting of an assurance on his life the following
provisions shall apply:
(a) where the full bonus would have been payable
under this Act, the Comptroller of Accounts shall
on the retirement of the depositor assign the policy
to him, or, in the case of his death while in the
service of Trinidad and Tobago, payment shall
be made as provided in section 27;
(b) where only half of the bonus would have been
payable, the Comptroller of Accounts shall
surrender the policy and pay to the depositor half
of the proceeds thereof and deposit the balance
to the credit of public funds;
(c) where no bonus would have been payable, the
Comptroller of Accounts shall surrender the
policy and deposit the proceeds thereof to the
credit of public funds.
30. Where the depositor who has elected that his
compulsory deposits and bonus, or his compulsory deposits only,
shall be applied towards the effecting of an assurance policy on
his life, is transferred to a pensionable office as provided for
under section 19 the following provisions shall apply:
(a) where he elects to count his service for pension
from the date of the transfer he is entitled—
(i) to have the policy or policies converted by
the Comptroller of Accounts into a fully
paid up policy or policies in respect of the
premiums paid up to the date of his transfer
to the pensionable office; or
Disposal of
policy for
bonuses before
maturity.
Provisions
where depositor
is transferred to
a pensionable
office.
[12 of 1960].
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LAWS OF TRINIDAD AND TOBAGO
20 Chap. 23:57 Provident Fund
(ii) to have the policies surrendered for their
value at the date of the transfer and the
amount thereof placed to his credit and
accumulated with interest at the prescribed
rate to be paid to him on his final retirement
from the service of Trinidad and Tobago;
(b) where he elects within one month of the transfer
to count all service in Trinidad and Tobago
towards pension, the Comptroller of Accounts
shall assign the policy relating to compulsory
deposits to the depositor, and in the case of a
policy relating to bonus the Comptroller of
Accounts shall surrender the policy and place
the amount realised therefrom to the credit of
public funds;
(c) where he elects to count his service for pension
from the date of the transfer and subsequently
revokes the election as provided by section 19(3),
the Comptroller of Accounts shall—
(i) where he has converted the policies into
fully paid up policies, assign the policies
relating to compulsory deposits to the
depositor and, in the case of policies
relating to bonus, surrender such policies
and place the amount realised therefrom to
the credit of public funds;
(ii) where he has surrendered the policies for
their value and placed the amount realised
to the credit of the depositor as provided
for in paragraph (a) (ii), place to the credit
of public funds the amount realised by
surrendering the policies relating to bonus,
together with any accretion thereto by way
of interest, and pay over to the depositor
the amount realised by surrendering the
policies relating to compulsory deposits,
together with any accretion thereto by way
of interest.
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LAWS OF TRINIDAD AND TOBAGO
Provident Fund Chap. 23:57 21
L.R.O.
31. (1) Interest at a rate to be fixed by the President of not
less than three per cent a year shall be payable upon the amount of
deposits and bonuses at any time standing to the credit of a
depositor. The interest shall commence upon any deposit on the
first day of the month next after the deposit is made or deemed to
be made and shall terminate on any sum withdrawn on the last day
of the month preceding the withdrawal.
(2) On 31st of December in each year up to the year
1999 the interest due up to and including that day shall be added
to the capital.
(2A) Interest for the period January 1, 2000 to September
30, 2000 shall be added to the capital and for all purposes deemed
to have been added on September 30, 2000.
(2B) On the last day of each financial year, commencing
October 1, 2000 the interest due up to and including that day shall
be added to the capital.
(3) When a depositor’s account is closed interest to the
end of the preceding month shall be credited to the account.
(4) Interest on the balance standing to the credit of a
depositor whose account has been closed shall cease to accrue from
the date of a notice given to him in writing stating the amount to
his credit which shall be served on him or in the event of his death
on his nominee or his legal personal representative.
32. (1) Any depositor may, by appointment in writing to the
Comptroller of Accounts in the prescribed form, direct that the
whole or any part of the deposit, bonus, gratuity or moneys from a
policy of assurance due to him at the time of his death shall be
paid to the beneficiary or beneficiaries named in such appointment.
(2) An appointment under this section shall be
inoperative so far as it is inconsistent with a subsequent
appointment and shall be revoked by the death of the appointee
in the lifetime of the depositor or by the marriage of the depositor.
It may also be revoked by the depositor by his making a new
appointment in the prescribed form.
Interest.
[39 of 2000].
Appointments.
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LAWS OF TRINIDAD AND TOBAGO
22 Chap. 23:57 Provident Fund
(3) The Comptroller of Accounts shall keep and carefully
preserve proper records of the particulars in reference to such
appointments.
(4) In the absence of an appointment all moneys due to a
deceased depositor under this Act shall be payable only to the legal
personal representative.
33. The Comptroller of Accounts shall invest in such
securities as may be approved by the President all moneys
standing to the credit of the Fund, except such amounts as he
may consider necessary for the payment of amounts becoming
due to depositors in any year and for the purpose of paying
premiums on policies effected on behalf of depositors and of
making advances to depositors.
34. So long as the interest earned in any one year on the
invested portion of the Fund is not sufficient to pay depositors’
interest at the prescribed rate on their deposits for that year, the
difference of interest shall be a charge upon the Consolidated Fund
and the whole cost of administration of the Fund shall be met from
public funds. However, if the interest earned in any one year on
the invested portion of the Fund is more than sufficient to pay
depositors’ interest for that year, then a sum shall be withdrawn
from the interest account and shall be applied in reduction of the
cost of administration of the Fund up to the limit of such cost for
that year. For the purpose of this section each year shall be taken
separately, no allowance being made for any cost of administration
for previous years not covered by the proportion of interest applied
in reduction thereof.
35. Any bonus or interest forfeited under this Act shall be
transferred to public funds.
36. The President is authorised to make advances from the
Fund to depositors upon such terms and conditions as may be
prescribed by Regulations.
Investments.
Salaries and
expenses.
Forfeitures.
Advances.
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LAWS OF TRINIDAD AND TOBAGO
Provident Fund Chap. 23:57 23
L.R.O.
37. All accounts relating to the Fund are to be kept separately
by the Comptroller of Accounts, but all transactions of the Fund
shall be reflected in the State’s Accounts.
38. The accounts of all transactions of the Fund shall be audited
in every year by the Auditor General.
39. (1) The President may make Regulations for all or any of
the following purposes:
(a) for the management and control of the Fund;
(b) prescribing the accounts, books and forms to be
used;
(c) as to the conditions upon which advances from
the Fund may be made;
(d) as to the effecting of assurance on the life of
depositors; and
(e) generally for more effectually carrying out any of
the purposes of or matters prescribed by this Act.
(2) All regulations made under this section shall be laid
before Parliament.
(3) The Provident Fund Regulations (formerly contained
in a Schedule to this Act) shall be deemed to be made under this
section and may be amended or revoked under subsection (1).
40. (1) Notwithstanding the provisions of this Act, it shall be
lawful for any depositor of the Fund who is transferred from service
with the Government of Trinidad and Tobago to the service of the
former Central Water Distribution Authority, constituted under the
repealed Central Water Distribution Authority Ordinance*, to
continue to contribute to the Fund and on the basis of the wages
attached to the office which he held immediately prior to the transfer
as though he had continued to be in the service of the Government
of Trinidad and Tobago in that office; and this Act shall, subject to
the provisions mentioned below contained, apply to the case of
such depositor as though his service with the former Central Water
Accounts of
the Fund.
Audit.
Regulations.
Depositor
transferred to
service of
former Central
Water
Distribution
Authority
permitted to
continue to be a
depositor.
Ch. 37 No. 1.
(1950 Ed.).
*Repealed by section 87 of Act No.16 of 1965.
UNOFFICIAL VERSION
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LAWS OF TRINIDAD AND TOBAGO
24 Chap. 23:57 Provident Fund
Distribution Authority were service with the Government of
Trinidad and Tobago provided that, notwithstanding sections 9 and
21 of this Act—
(a) the deposit authorised as mentioned above to be
made by any such person shall be deducted by
the former Central Water Distribution Authority
from each payment of wages to such person;
(b) the bonuses contemplated by section 21 shall be
contributed by the former Central Water
Distribution Authority and shall each be of an
amount equal to the deposit;
(c) each such deposit and bonus shall be paid to the
Comptroller of Accounts by the former Central
Water Distribution Authority upon such deduction
as mentioned above.
(2) This section shall be deemed to have had effect as
from 1st August 1944.
41. (1) Section 18 of the Pensions Act shall, subject to the
limitations mentioned below contained, apply to the case of a
depositor dying as a result, and within six months, of any injury
received in the actual discharge of his duty and without his own
default as though he had held a non-pensionable office in the service
of the Government of Trinidad and Tobago.
(2) In the application of subsection (1) of section 18 of
the Pensions Act to any such case, reference to the gratuity payable
under section 17 of that Act shall be deemed to be a reference to
the gratuity payable under section 22 of this Act.
(3) If any pension is awarded under the authority of this
Act, full bonus shall not be payable to the nominee or legal
personal representative of the deceased depositor as contemplated
by section 21(2).
(4) Such pensions as are provided for under this Act shall
be payable only if the award thereof would, in the opinion of the
President, be more advantageous to the dependants of the deceased
depositor than the payment of full bonus.
Provision for
payment of
pensions to
dependants of
deceased
depositor after
dying while in
the service of
the Government.
Ch. 23:52.
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LAWS OF TRINIDAD AND TOBAGO
Provident Fund Chap. 23:57 25
L.R.O.
SCHEDULE
PART A
For offices under this Part see Ch. 9 No. 9 (1940 Ed.). For additions under
section 13(2) from 1940 to 1949 (inclusive) refer to the Gazettes and for additions
thereafter See GNs 179/1951; 182/1953; 191/1953; 21/1954; 24/1954; 54/1954;
63/1954; 83/1954; 98/1954; 115/1954; 133/1954; 144/1954; 168/1954; 66/1955;
105/1955; 108/1955; 122/1955; 135/1955; 140/1955; 168/1955; 11/1956;
43/1956; 112/1956; 144/1956; 145/1956; 71/1958; 137/1958; 87/1960; 59/1961.
PART B
For names of depositors who inadvertently omitted to exercise the option see
Act No. 2 of 1950 and for additions see GNs 38/1951; 142/1954; 192/1954;
37/1955; 21/1957; 56/1957; 155/1957; 30/1958; 98/1958; 30/1959.
(5) This section shall be deemed to have come into
operation on 31st January 1946.
Section 13(2).
Section 13(3).
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LAWS OF TRINIDAD AND TOBAGO
26 Chap. 23:57 Provident Fund
SUBSIDIARY LEGISLATION
PROVIDENT FUND REGULATIONS
ARRANGEMENT OF REGULATIONS
REGULATION
1. Citation.
2. Management of the Fund.
3. Form of appointment.
4. Closed accounts.
5. Statement of account.
6. Accounts relating to bonus additions.
7. Advances.
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L.R.O.
[Subsidiary]
LAWS OF TRINIDAD AND TOBAGO
Provident Fund Chap. 23:57 27
PROVIDENT FUND REGULATIONS
deemed to be made under section 39(1)
1. These Regulations may be cited as the Provident
Fund Regulations.
2. The Fund shall be under the management of the
Comptroller of Accounts, by whom the necessary books of account
shall be kept.
3. The form of appointment referred to in section 32 of the
Act shall be as under—
To the Comptroller of Accounts of Trinidad and Tobago—
I .............................................. of .............................................
a depositor in the Provident Fund, do hereby appoint and direct
that all Moneys [or the ........................................ part of, or the
sum of ............................................... out of my moneys] which
may be standing in the Fund to my credit or due on a policy of
assurance at the time of my death shall in case of my dying
intestate, be paid to ....................................................
Dated this ....................... day of ............................, 20 .........
Signed or acknowledged by the said
in the presence of
4. On a depositor leaving the service of Trinidad and Tobago
or being transferred to a pensionable office his account shall be
closed and a notice given to him in writing showing the amount to
his credit.
5. As soon as the accounts of the year are closed, individual
depositors shall be furnished with a statement showing
the amounts—
(a) to their credit at the close of the year by way of—
(i) compulsory deposits and interest;
(ii) bonus with interest;
(b) paid in respect of life assurance premiums.
14 of 1934.
[235/1971].
Citation.
Management of
the Fund.
Form of
appointment.
Closed
accounts.
Statement of
account.
}
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[Subsidiary] Provident Fund Regulations
LAWS OF TRINIDAD AND TOBAGO
28 Chap. 23:57 Provident Fund
6. All bonuses and all interest thereon provisionally accruing
shall be shown in a separate column in each depositor’s account.
7. (1) Advances from the Fund may be made by the
Comptroller of Accounts to a depositor for the following purposes:
(a) to pay the funeral expenses of his father, mother,
wife or children up to a limit of $100 in each case;
(b) to pay exceptional hospital expenses or
exceptional expenses incurred through the ill-
health of the depositor or the persons mentioned
in subregulation (a) up to a maximum of $100 in
each instance;
(c) to furnish temporary financial assistance in
any case of extreme necessity not provided for
in subregulations (a) and (b) up to a maximum
of $100.
(2) Advances will be made on the following conditions:
(a) advances shall not exceed 75 per cent of the
amount standing to a depositor’s credit in respect
of compulsory deposits and interest thereon,
except in very special circumstances to be
approved by the President;
(b) application for advances supported by appropriate
evidence must be made through the Head of
Department, by whom the application must be
recommended, to the Comptroller of Accounts;
(c) no advance shall be made to a depositor with less
than five years’ service;
(d) no depositor, except in exceptional circumstances
to be approved by the President, shall be granted
a further advance until the previous advance has
been repaid;
(e) advances must be repaid by twenty-four equal
monthly instalments commencing from the end
of the month following that in which the advance
is made;
Accounts
relating to bonus
additions.
Advances.
[235/1971].
UNOFFICIAL VERSION
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Provident Fund Regulations [Subsidiary]
L.R.O.
LAWS OF TRINIDAD AND TOBAGO
Provident Fund Chap. 23:57 29
(f) advances will be debited against the personal
account of the depositor, the interest on his credit
balances being consequently reduced.
(3) For the purposes of this regulation every depositor
shall be required to register the names of his father, mother, wife
and children, and any future births of children or other changes.
UNOFFICIAL VERSION
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