s. 55 (b) the pension which would have been payable S. 55(1)(b) on the member attaining the age of 60 years amended by No. 110/1993 if his adjusted final salary at the date of his ss 150(2), retirement had been his adjusted final salary 153(1). on that birthday and counting the years of service which would have been completed by that age. * * * * * S. 55(1A) inserted by No. 81/1988 s. 23, repealed by No. 64/1989 s. 36(3)(c). S. 55(2) (2) The Board must pay from a beneficiary's account amended by established pursuant to subsection (1)(a) to the No. 9657 s. 16, beneficiary or to such other person as the Board substituted by No. 58/1987 thinks fit on behalf of the beneficiary such s. 10(b)(i), instalments or a single payment as may be decided amended by No. 64/1989 by the Board. s. 36(3)(d). (2A) The balance of a beneficiary's account accrues S. 55(2A) inserted by interest (compounded on 1 July each year) at rates No. 58/1987 s. 10(b)(i). that are determined by the Board having regard to the investment earnings of the Fund. S. 55(2B) (2B) The total amounts payable to a beneficiary from a inserted by beneficiary's account (excluding payments under No. 58/1987 subsection (2)) shall not be less than 10 per s. 10(b)(i). centum of the current equivalent of the salary on retirement of the beneficiary (within the meaning of section 51) for each complete year during which contributions have been paid, not exceeding 30.
S. 55(1)(b) amended by No. 110/1993 ss 150(2), 153(1). (b) the pension which would have been payable on the member attaining the age of 60 years if his adjusted final salary at the date of his retirement had been his adjusted final salary on that birthday and counting the years of service which would have been completed by that age. s. 55 S. 55(1A) inserted by No. 81/1988 s. 23, repealed by No. 64/1989 s. 36(3)(c). * * * * * S. 55(2) amended by No. 9657 s. 16, substituted by No. 58/1987 s. 10(b)(i), amended by No. 64/1989 s. 36(3)(d). (2) The Board must pay from a beneficiary's account established pursuant to subsection (1)(a) to the beneficiary or to such other person as the Board thinks fit on behalf of the beneficiary such instalments or a single payment as may be decided by the Board. S. 55(2A) inserted by No. 58/1987 s. 10(b)(i). (2A) The balance of a beneficiary's account accrues interest (compounded on 1 July each year) at rates that are determined by the Board having regard to the investment earnings of the Fund. S. 55(2B) inserted by No. 58/1987 s. 10(b)(i). (2B) The total amounts payable to a beneficiary from a beneficiary's account (excluding payments under subsection (2)) shall not be less than 10 per centum of the current equivalent of the salary on retirement of the beneficiary (within the meaning of section 51) for each complete year during which contributions have been paid, not exceeding 30.