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    Question

    The Authority may, by granting a certificate of

    registration permit one or more persons to act as a pension fund for the purpose of ____________________
    A Receiving contributions, accumulating them and making payments to the subscriber Correct Answer Incorrect Answer
    B Responsible for receiving instructions from subscribers through the points of presence, transmitting such instructions to pension funds, effecting switching instructions received from subscribers and discharging such other duties and functions Correct Answer Incorrect Answer
    C Receiving contributions and instructions, transmitting them to the Trustee Bank or the central recordkeeping agency and paying out benefits to subscribers Correct Answer Incorrect Answer
    D All a, b & c Correct Answer Incorrect Answer
    E Both a & b Correct Answer Incorrect Answer

    Solution

    Section 23.   Pension funds: (1) The Authority may, by granting a certificate of registration under sub-section (3) of section 27, permit one or more persons to act as a pension fund for the purpose of receiving contributions, accumulating them and making payments to the subscriber in such manner as may be specified by regulations.

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