Section 129: Pension fund and former employees

(1) All former employees of the Uganda Electricity Board who at the commencement of this Act are receiving retirement benefits and pensions from the Uganda Electricity Board shall continue to be paid by Government on terms and conditions not less favourable than those to which they were entitled before the commencement of this Act. (2) All employees of the Uganda Electricity Board who may be retrenched as a result of the implementation of this Act shall, on the date of retrenchment, be paid in full the calculated and ascertained retrenchment benefits and pensions. (3) There shall be established a Contributory Pension Fund initially funded by Government for the benefit of those employees in the permanent employment of the Uganda Electricity Board immediately before the commencement of this Act who are transferred to the successor company. (4) All employees of the Uganda Electricity Board who transfer their services to the successor company under section 128 shall have their terminal benefits and pension calculated and ascertained and transferred to the Contributory Pension Fund. (5) Any employee who, at any time after the transfer of his or her services to the successor company, retires or is dismissed or whose services are terminated for whatever reason shall be paid his or her calculated and ascertained retirement benefits or pension from the Contributory Pension Fund. (6) The calculated and ascertained retirement benefits and pension entitlement of each employee of the Uganda Electricity Board shall be recorded in a pension certificate; and whenever that employee terminates his or her services with the successor company, the pension certificate shall be conclusive evidence of the employee's entitlements relating only to the period of employment for the employee in the Uganda Electricity Board.