Section 9: Appointment of an actuary for the Scheme.

(1) The Council shall appoint for the Scheme, a licenced actuary on such terms and conditions of service as the Council may, from time to time, determine.
(2) The actuary shall review the Scheme and evaluate it actuarially, including the rates of contributions payable under the Scheme and make appropriate recommendations to the Council.
(3) If, having regard to the review and evaluation carried out by the actuary under subsection (2) of this section, the Council considers that the rates of contributions have not retained their value in relation to the general level of earning obtaining in Nigeria, the Council may modify the rates to the extent considered appropriate and bring the new rates to the notice of the persons affected by the modification.