s. 69 (b) in the case of a new scheme member, equal to the accrued retirement benefit. S. 69(4A) (4A) A contributor who is entitled to a deferred inserted by retirement benefit under subsection (4) may elect No. 95/2000 in writing to the Board to— s. 6(9). (a) convert the entitlement to a present lump sum; and S. 69(4A)(b) (b) have the lump sum rolled over or transferred substituted by within the superannuation system as Nos 40/2004 s. 28(9), nominated by the contributor. 37/2007 s. 39. S. 69(4B) (4B) The method of calculating the conversion under inserted by subsection (4) is to be determined by the Minister No. 95/2000 on the advice of an actuary appointed by the s. 6(9). Board. (5) If a person who is entitled to a deferred benefit S. 69(5) inserted by under subsection (4) resigns, he or she may elect No. 72/1990 to receive instead of that deferred benefit— s. 8, amended by No. 110/1993 (a) a cash benefit equal to a refund of s. 84(2). contributions and interest at the prescribed rate; and S. 69(5)(b) (b) a deferred retirement benefit reduced by such amended by amount as is determined by the Minister on No. 46/1998 s. 7(Sch. 1). the advice of an actuary. (6) The aggregate benefits of a contributor must not S. 69(6) inserted by exceed 84 times the final average salary of the No. 49/1992 s. 23(b), contributor. amended by No. 110/1993 s. 71(1). (6A) For the purposes of subsection (6), if a payment or S. 69(6A) inserted by transfer to a non-member spouse is made for the No. 70/2003 purposes of Part VIIIB of the Commonwealth s. 25. Family Law Act 1975 whether under Part 7A or otherwise, the aggregate benefits of the member
(b) in the case of a new scheme member, equal to the accrued retirement benefit. S. 69(4A) inserted by No. 95/2000 s. 6(9). (4A) A contributor who is entitled to a deferred retirement benefit under subsection (4) may elect in writing to the Board to— s. 69 (a) convert the entitlement to a present lump sum; and S. 69(4A)(b) substituted by Nos 40/2004 s. 28(9), 37/2007 s. 39. (b) have the lump sum rolled over or transferred within the superannuation system as nominated by the contributor. S. 69(4B) inserted by No. 95/2000 s. 6(9). (4B) The method of calculating the conversion under subsection (4) is to be determined by the Minister on the advice of an actuary appointed by the Board. S. 69(5) inserted by No. 72/1990 s. 8, amended by No. 110/1993 s. 84(2). (5) If a person who is entitled to a deferred benefit under subsection (4) resigns, he or she may elect to receive instead of that deferred benefit— (a) a cash benefit equal to a refund of contributions and interest at the prescribed rate; and S. 69(5)(b) amended by No. 46/1998 s. 7(Sch. 1). (b) a deferred retirement benefit reduced by such amount as is determined by the Minister on the advice of an actuary. S. 69(6) inserted by No. 49/1992 s. 23(b), amended by No. 110/1993 s. 71(1). (6) The aggregate benefits of a contributor must not exceed 84 times the final average salary of the contributor. S. 69(6A) inserted by No. 70/2003 s. 25. (6A) For the purposes of subsection (6), if a payment or transfer to a non-member spouse is made for the purposes of Part VIIIB of the Commonwealth Family Law Act 1975 whether under Part 7A or otherwise, the aggregate benefits of the member
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