(1) The following enactments are hereby repealed:

(a) Social Security Act, 1991 (P.N.D.C.L. 247);

(b) Long-Term Savings Act, 2004 (Act 679).

(2) The repeal of the enactments shall not affect any additional fringe benefits, other than pension and gratuity enjoyable upon retirement by a person before the commencement of this Act except as provided by this Act. leaving the detailed provisions and the rules to be provided later by a definitive trust deed;

(3) Despite the repeal the regulations, bye-laws, notices, orders, directions, appointments or any other act lawfully made or done under the repealed enactment and in force immediately before the commencement of this Act shall be considered to have been made or done under this Act and shall continue to have effect until reviewed, cancelled or terminated.

(4) The assets, rights, obligations and liabilities existing under the Social Security Act, 1991 (P.N.D.C.L. 247) are hereby transferred to the Trust.