Section 12 in Andhra Pradesh Municipalities (Pension-cum-Gratuity Fund) Rules, 1969
12.
The amount contributed to the fund by the municipal council and other sums relating to the fund shall be lodged in the treasury or in the manner laid down in instructions 3 in Chapter IV of Part III of Andhra Pradesh Treasury Code, Volume I, any Scheduled Bank as may be specified by the Government. Sums required for payment of pensions, family pension as contemplated in the Liberalised Pension Rules and Death-cum-Retirement Gratuity shall be the Post Office Savings Banks or with the sanction of the Municipal council in other interest bearing Government securities.
