The National Pensions Fund was created in 1979, under the National Pensions Act . The Fund shall be administered by the Minister of Social Security , under the Finance and Audit Act .
Surplus Fund of the National Pensions Fund is determined by the difference between Money Credited to the Fund and Money paid out of the Fund
According to the National Pensions Act , the Money credited to the Fund are:
(i) Contribution from Employers and Employees
(ii) Contribution from Government for payment of Basic Pensions
(iii) Collection of NSF
(iv) Collection of Levy
According to the National Pensions Act, the Money paid from the Fund are:
(i) Contributory Pensions
(ii) Basic Pensions on behalf of Government
(iii) Cost of administering the Fund
According to Section 38 of the National Pensions Act ,
Subject to the Finance and Audit Act, any surplus remaining in the Fund may be held on deposit with the Government or invested in such manner as the NPF and NSF Investment Committee set up under subsection (2) may determine, regard being had to–
• (a) the need for an appropriate level of liquidity in the Fund;
• (b) the need to secure the future value of the Fund;
• (c) the need for national development;
• (d) any advice the NPF and NSF Investment Committee may receive from the Board.
Section 38(2) of the NPF Act :
There is set up for the purposes of determining the manner in which any surplus remaining in the Fund may be invested, a committee to be known as the NPF and NSF Investment Committee
The portfolio of both the National Pensions Fund and National Savings Fund as at 30 September 2019 stood at around some Rs129.8 bn and Rs 29.45 Bn respectively.
The Market value of NPF portfolio as at 30 September 2019 , and the performance return for the quarter ended 30 September 2019 is available on link below:
NPF PERFORMANCE REPORT FOR QUARTER ENDED 30 SEPTEMBER 2019
NPF/NSF PERFORMANCE REPORT FOR QUARTER ENDED 31 DECEMBER 2019