Print Options

(1) The sources of money for the Fund are

(a) the National Health Insurance Levy provided for under section 47;

(b) two and one half percentage points of each person's contribution to the Basic National Social Security Scheme;

(c) moneys that are approved for the Fund by Parliament;

(d) moneys that accrue to the Fund from investments made by the Authority;

(e) grants, donations , gifts and any other voluntary contributions made to the Fund;

(f) fees charged by the Authority in the performance of its functions;

(g) contributions made by members of the Scheme; and

(h) moneys accruing under section 198 of the Insurance Act, 2006 (Act 724).

(2) The Director-General of the Social Security and National Insurance• Trust shall transfer directly to the Fund two and one half percentage points of each person's mandatory social security contribution at the end of each month without any deductions.

(3) Where there is a default in the payment of benefits by the Social Security and National Insurance Trust to contributors arising from the payment of the contribution into the Fund under subsection (1) (b), there shall be paid by Government into the Social Security Trust Fund, the amount of money that may be required to enable the benefits to be paid to the contributor.

(4) The National Insurance Commissioner shall cause the transfer of moneys referred to in section 41 (1) (h) to the Fund at the end of each month.