(1) The Corporation may with the approval of the Minister provide for the establishment and maintenance of a pension or provident fund for the benefit of the officers and employees of the Corporation.
(2) Without prejudice to the generality of this section, the pension scheme may enable the Corporation to—
(a) grant gratuities, pensions or superannuation allowances to, or to the widow, families or dependents of its employees;
(b) establish contributory and superannuation schemes, and establish and contribute to superannuation funds for the benefit of its employees;
(c) enter into and carry into effect agreements with any insurance company other association or company for securing to any such employee, widow, family or dependent, such gratuities, pensions or allowances as are by this section authorised to be granted;
(d) give donations or subscriptions to charitable institutions, sick funds, benevolent funds and other objects calculated to benefit its employees.