Section 93
Recommendation of Committee to review Scheme
of Housewives' Social Security Act 2022
The Committee may, when substantial changes in the general level of earnings resulting from substantial changes in the cost of living or sustainability of the Fund, examine the situation on the basis of an actuarial valuation and with the approval of the Board, make recommendations to the Minister to adjust the Scheme in order to maintain the real value of certain cash benefit and to ensure the sustainability of the Fund.
(2)
The recommendations of the Committee referred to in subsection (1)—
(a)
shall be accompanied by the actuarial report;
(b)
shall take into account the social policy of the Government;
and
(c)
may include—
(i)
a proposal for a new rate of contribution paid in advance;
(ii)
a proposal for changes in the rates of certain cash benefit; and
(iii)
extension or deletion of types of benefits.