(1) The Commission shall consist of a chairperson and 6 ordinary members.
(2) Each member of the Commission shall be known as a commissioner of the National Pensions Reserve Fund, and is in this Act referred to as a "commissioner".
(3) The commissioners shall be appointed by the Minister.
(4) Subject to subsection (5), the Minister shall only appoint persons to be commissioners who have acquired substantial expertise and experience at a senior level in any of the following areas -
(a) investment or international business management,
(b) finance or economics,
(c) the law,
(d) actuarial practice,
(e) accountancy and auditing,
(f) the Civil Service of the Government or the Civil Service of the State,
(g) trade union representation,
(h) the pensions industry,
(i) consumer protection.
(5) The Minister shall not appoint a person, who holds a position in the Civil Service of the Government or the Civil Service of the State, as a commissioner.