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) Not exceeding 16 per cent of the administrative expenses shall be met from and out of the Employees’ Pension Fund. The remaining administrative expenses shall be met from the administration accounts set up under the Employees’ Provident Funds Scheme, 1952. The cost of remittance of pension shall be charged on the Pension Fund. |
