Section 69: General obligations of the Pension Fund Administrator and Pension Fund Custodian.

The Pension Fund Administrator and Pension Fund Custodian shall-(a)
ensure that the pension fund is at all times managed or held in accordance with the provisions of this Act regulations or guidelines made hereunder and any directive given by the Commission;
(b)
take reasonable care to ensure that the management or custody of the pension funds is carried out in the best interests of the retirement savings account holders;
(c)
report to the Commission, as soon as practicable, any unusual occurrence with respect to the pension funds which in his view could adversely affect the rights of the owner of a retirement savings account under the Scheme;
(d)
report to the Commission, as soon as reasonably practicable, if an employer is in default of remittance of any contribution and such remittance remains due for a period of more than 14 days; and
(e)
subject to the guidelines issued by the Commission and upon the request of an employee, transfer the retirement savings account promptly to another Pension Fund Administrator;
(f)
provide annual fidelity insurance cover for its staff to the full value of the pension funds and assets managed or held or as may be determined by the Commission.