Section 56
Release of employer’s contributions
of Employees Provident Fund Act 1991
The Board, after receiving a notification in writing from an employer of a pensionable employee stating that the pensionable employee has died in service or is about to retire on the ground of attaining the retirement age applicable to the pensionable employee or on any other ground and requesting for the return of the equivalent of the employer’s contributions remitted to the Fund in respect of the pensionable employee by the Government of Malaysia or of a State or any statutory or local authority or from all such employers of the pensionable employee, together with any dividend credited thereon, may pay to the Pensions Trust Fund established under section 3 of the
Pensions Trust Fund Act 1991 [Act 454], such amount together with dividend credited thereon and thereupon the amount standing to the credit of the pensionable employee in the Fund shall be the reduced amount as from that date.
(2)
Notwithstanding subsection (1), when the Board has authorized a member of the Fund to make a withdrawal under
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subsections 54C(1) and (2), the Board may pay an amount of money equivalent to the contributions remitted to the Fund by the member’s employer in respect of that member to the Pensions
Trust Fund established under section 3 of the Pensions Trust Fund
Act 1991.