Section 7 in Punjab Gramin Bank (Employees') Pension Regulations, 2018
7. Board of trustees.
(1)The general superintendence, direction and management of the affairs and business of the Fund shall vest in the board of trustees, which shall exercise all powers and do all acts and things which may be necessary for the payment of pension or family pension under these regulations.(2)The board of trustees shall consist of such number of persons not less than three and not more than five, as may be determined by the Board, to be appointed by the Bank.(3)The power to appoint the trustees shall be vested with the Bank and all such appointments shall be made in writing.(4)The Bank shall nominate one of the trustees to be the Chairman of the board of trustees.(5)The term of appointment of trustee shall be for a period of three years and the Bank may reappoint a trustee who has already completed his term:Provided that no trustee shall be appointed for more than two terms.
