Pension benefits

(1) Subject to the provisions of this section, the posts of the officers and employees of the Institute appointed pursuant to section 19 shall be pensionable under the contributory pension scheme established by the Board. (2) All persons in service of, the Institute, at the commencement of this Act and who did not resign or retire from the public service before joining the Institute, shall continue to be governed by the Pensions Act to the exclusion of the Board’s contributory pension scheme. CAP. 30. CAP. 30. (3) The Pensions Act shall not apply to any person who is covered by and entitled to benefits under the Board’s contributory pension scheme. (4) The Board’s contributory pension scheme shall not apply to any person who is employed on a contract/gratuity basis. (5) The Board’s pension scheme in existence at the commencement of this Act shall be deemed to have been made by the Board pursuant to section 23 and may, from time to time, be amended by Regulations made under that section.