(c) deferred retirement benefits payable under section 38. S. 34AB 34AB Exempt officers inserted by No. 87/1992 (1) A contributor who becomes an exempt officer is s. 19. entitled up to the date of becoming an exempt officer to a deferred retirement benefit payable in accordance with section 38. (2) A benefit under this section— (a) must be indexed in accordance with section 43; and (b) must be preserved and is payable in S. 34AB(2)(b) amended by accordance with the specified standards. No. 4/1996 s. 98. S. 34AB(3) (3) A member who is entitled to a deferred retirement inserted by benefit under subsection (1) may elect in writing No. 95/2000 to the Board to— s. 16(1). (a) convert the entitlement to a present lump sum; and S. 34AB(3)(b) (b) have the lump sum rolled over or transferred substituted by within the superannuation system as Nos 40/2004 s. 20(2), nominated by the member. 37/2007 s. 21. S. 34AB(4) (4) The method of calculating the conversion under inserted by subsection (3) is to be determined by the Minister No. 95/2000 on the advice of an actuary appointed by the s. 16(1). Board. S. 34B 34B Employer to pay into Fund inserted by No. 9978 Where a member who is retrenched elects to s. 7(2). receive a lump sum under paragraph (a) of section 34A and does not subsequently make a repayment under subsection (5) of section 21A, the Board may require the employer to pay into the fund a sum determined actuarially
(c) deferred retirement benefits payable under section 38. S. 34AB inserted by No. 87/1992 s. 19. 34AB Exempt officers (1) A contributor who becomes an exempt officer is entitled up to the date of becoming an exempt officer to a deferred retirement benefit payable in accordance with section 38. (2) A benefit under this section— (a) must be indexed in accordance with section 43; and S. 34AB(2)(b) amended by No. 4/1996 s. 98. (b) must be preserved and is payable in accordance with the specified standards. S. 34AB(3) inserted by No. 95/2000 s. 16(1). (3) A member who is entitled to a deferred retirement benefit under subsection (1) may elect in writing to the Board to— (a) convert the entitlement to a present lump sum; and S. 34AB(3)(b) substituted by Nos 40/2004 s. 20(2), 37/2007 s. 21. (b) have the lump sum rolled over or transferred within the superannuation system as nominated by the member. S. 34AB(4) inserted by No. 95/2000 s. 16(1). (4) The method of calculating the conversion under subsection (3) is to be determined by the Minister on the advice of an actuary appointed by the Board. S. 34B inserted by No. 9978 s. 7(2). 34B Employer to pay into Fund Where a member who is retrenched elects to receive a lump sum under paragraph (a) of section 34A and does not subsequently make a repayment under subsection (5) of section 21A, the Board may require the employer to pay into the fund a sum determined actuarially
79-9363a075.docx