(1) There shall be established a Fund to be called the National Insurance Fund into which shall be paid—
(a) all contributions;
(b) all rents, interest, dividends or other income derived from the assets of the Fund;
(c) all sums recovered under this Act as fines, fees, penalties, surcharges or costs;
(d) all sums properly accruing to the Fund under this Act, including the repayment of benefit;
(e) such other sums as may be provided by Parliament for the purposes of this Act or as may be received and accepted by the Board on behalf of the Fund;
(f) all assets and all other funds held in trust or otherwise by the National Provident Fund Board;
(g) any sums transferable to the Fund from any exempted scheme under this Act.
(2) There shall be paid out of the Fund—
(a) all benefits;
(b) refunds of contributions;
(c) all salaries, rents, expenses and allowances properly incurred in the administration of this Act;
(d) all liabilities incurred by the National Provident Fund Board;
(e) any expenditure considered by the Director to be necessary for the training or welfare of the officers or employees, including loans, and facilities for leisure or recreation;
(f) any sums expended for carrying out any surveys or research for the purpose of gathering any data which the Director considers necessary for the performance of the functions of the Corporation under this Act;
(g) such sums as the Board may apportion out of the income from its investments for giving assistance to the aged, disabled or needy persons, although such persons are not contributors under this Act;
(h) any fees, subscriptions or sums for membership, affiliation or contribution to or in any local, regional or international body concerned with national insurance,
(i) all other moneys which the Director may consider to be reasonable and necessary for the proper and efficient performance of the functions of the Corporation;
(j) sums for giving assistance under an economic relief programme; (Substituted by Act 2 of 2020)
(k) any other prescribed payments. (Inserted by Act 2 of 2020)