(1) An employer may arrange for a worker to join and pay contributions to a provident fund or personal pension scheme where the worker

(a) is more than fifteen years of age,

(b) is more than the statutory retirement age, or

(c) is exempted under sections 31 and 60 of this Act.

(2) The employer is not obliged to pay contributions of a worker under subsection (1) to the scheme.

(3) Contributions made and returns earned from investment of the contribution shall, be credited to the account of the contributor subject to any deduction of fees.

(4) Where an employer contributes on behalf of a worker the contribution does not vest in the worker until at the end of the vesting period.

(5) Subject to subsection (4), an employer’s contributions to a provident fund on behalf of a worker is for that worker.

(6) Despite subsection (4) in the event of severance by the employer of the employment relationship with the worker, or in the event of liquidation of the employer, an employer’s contributions for its worker shall vest in the worker even if the vesting period has not expired.

(7) A worker may forfeit part or the total amount of the employer’s contributions if the worker leaves the employment of the employer before the end of the vesting period.

(8) On the death of a worker before or after the expiry of the vesting period, any accrued benefit of the worker shall devolve on the worker’s nominated beneficiary and in the absence of a nominated beneficiary in accordance with any applicable law.