The Punjab Pension Fund Act 2007, Government of Punjab issued The Punjab Pension Fund Act 2007, which provides revenue generation from the pension fund to discharge liabilities of The government in term of payment of pension.
“An Act to provide for the establishment of a Fund to generate revenue for the discharge of the pension liabilities of the Government”.
Punjab Pension Fund.– (1) The Government shall, by notification, establish the Punjab Pension Fund for proper management and discharge of its pension liabilities.
(2) 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.
(3) 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.