Benefits to vest immediately

Benefits cannot be assigned

Provision for payment of Benefits in case of disability or death

Scheme membership cannot be limited on the basis of discrimination or discretion

Benefits to be paid to nominated beneficiary but trustees may vary on proper written grounds

Member cannot withdraw from scheme while still in employment of sponsor

Scheme rules may provide option for member to withdraw, defer Benefits or transfer funds to another scheme on cessation

Benefits to be commuted upto 1/3 in case of contributory scheme, upto 1/4 in non-contributory scheme, and fully in case of additional voluntary contributions

Payments of Benefits upon withdrawal following cessation of service to be in accordance with scheme rules