(1) Subject to the provisions of the National Insurance Corporation Act the Authority may, with the approval of and subject to such terms and conditions as may be imposed by the Minister, provide for the establishment and maintenance of a pension scheme for the benefit of its officers and staff.
(2) Without prejudice to the generality of subsection (1), the pension scheme may enable the Authority to—
(a) grant gratuities, pensions or superannuation allowances to, or to the widows, families or dependents of, its officers and staff;
(b) establish contributory and superannuation schemes, and establish and contribute to superannuation funds for the benefit of its officers and staff;
(c) enter into and carry into effect agreements with any insurance company or other association or company for securing to any such officers or staff such gratuities, pensions or allowances as are by this section authorised to be granted.