Section 16: Withdrawal from Retirement Savings Account

(1)
An employee shall not be entitled to make any withdrawal from his retirement savings account opened under Section 11(1) of this Act, before attaining the age of 50 years.
(2)
Notwithstanding the provisions of subsection (1) of this section, any employee who retires, disengages or is disengaged from employment -
(a)
on the advice of a suitably qualified physician or a properly constituted medical board certifying that the employee is no longer mentally or physically capable of carrying out the functions of his Office;
(b) due to total or permanent disability either of the mind or body; or
(c)
before the age of 50 years in accordance with the terms and conditions of his employment, shall be entitled to make withdrawals in accordance with Section 7 of this Act
(3)
Persons who retire under subsection (2) of this section shall be reintegrated into the Scheme upon securing another employment, subject to guidelines to be issued by the Commission from time to time.
(4)
For the purpose of subsection (1) of this section, the authentic age of an employee entering the Public Service or any other employment shall be that submitted by him on entering the service or taking up the employment.
(5)
For the purpose of subsection (1) of this section, the authentic age of an employee entering the Public Service or any other employment shall be that submitted by him on entering the service or taking up the employment.