pay, or make grants, revocable or irrevocable, and either subject or not subject to any terms or conditions of pensions or other benefits to employees or ex-employees (including a Managing Director) and their dependants, or to any of such persons, including pensions or benefits additional to those, if any, to which such employees or ex-employees (including a Managing Director) or their dependants are or may become entitled under any such scheme or fund as mentioned in the last preceding paragraph.
Any such pension or benefit may be granted to an employee either before and in anticipation of or upon or at any time after his actual retirement.