The Trust Deed and the Rules of the Pension Plan must make provisions for the following in order to be registered under Insurance Act No.8 of 2009.
- The whole of the objects for which the plan is established (employees)
- The appointment and removal of Trustees
- The Vesting in the trustees of all property belonging to the plan
- The investment in the name of the trustees of all capital monies belonging to the plan and the authorization of the investments in which, in addition to those authorized by law, that the trustees may invest the monies; but the rules of a plan may provide for the deposit of the monies with a bank.
- The making of contributions to the plan by the employed in the undertaking or combination of undertakings in connection with which the plan is established.
- The contribution payable to and the rates of benefits payable from the fund or the method of calculating benefits payable.
- The conditions on which persons may become and may cease to be, contributors to, and entitled to benefits from, the fund;
- The protection of the vested rights of contributor to the plan;
- The preparation of all statements of accounts, balance-sheets and reports required by this Act to be prepared;
- The supply (in demand) to every person having rights in the plan, being a person who is or has been employed in the undertaking in connection with which the plan is established, of a copy of the rules of the plan and of all amendments to the plan, and of the latest statements of accounts, balance-sheet and actuarial report prepared in accordance with the requirements of this Act;
- The circumstances in which the plan may be wound up and in the event of a winding-up, the application of any surplus in the fund and the use of the plan to purchase immediate annuities for contingent pensioners;
- The person or persons to whom any surplus is payable upon the winding-up of the plan; and
- The method by which the rules may be amended