Download THE PUNJAB PENSION FUND ACT, 2007 — It extends to whole of the Province of the Punjab. It shall come into force at once. The Government shall, by notification, create a Reserve Pension Fund in the Public Account of the Province. The Government shall, by notification, establish the Punjab Pension Fund for proper management and discharge of its pension liabilities. The Fund shall be a body corporate with perpetual succession, common seal, power to enter into contract and may sue or be sued by the said name. The Fund shall perform such functions and exercise such powers with regard to the Reserve Fund as vested in it under this Act and the rules made thereunder. The Government shall, by notification, establish a committee to be called the Punjab Pension Fund Management Committee. The management and administration of the Fund shall vest in the Management Committee. The Government shall, by notification, appoint General Manager of the Fund on such terms and conditions as it may determine. A person shall not be appointed as the General Manager unless he has at least twelve years experience of management including at least three years experience of investment banking, treasury operations, finance, asset management, fund management or unit trust management and holds a sixteen years, equivalent or higher degree.