Amendment status not verified — confirm the current text below against the official source.
Pension Account - (1) Every subscriber shall have an individual pension account. 4 (2) The member shall furnish such documents as may be prescribed by the Nodal Implementation Agency, as proof for eligibility for enrollment in the scheme. (3) A subscriber shall not exit from the scheme, except as may be specified in the rules governing the scheme. (4) The subscriber's individual pension account shall be closed in case she does not fulfil the prescribed conditions of the scheme, and the available contributions of the subscriber and earnings from such contributions in the account shall be transferred to the subscriber. (5) On the death of the subscriber the available contributions and accrued earnings on such contributions shall be paid as a lumsum to the nominee of the subscriber.