s. s. 71B 71A 71A Early release of benefits S. 71A inserted by (1) The Board may approve the early release of part No. 49/1992 s. 25, or all of the vested benefit of a member or former repealed by member in accordance with the specified No. 4/1996 standards. s. 108(5), new s. 71A inserted by (2) The Board must determine— No. 82/1996 s. 63. (a) the amount of the benefit to be released; and (b) the method of payment of that amount; and (c) the reduction to be made to the vested benefit— in accordance with the specified standards. S. 71B 71B Taxation on benefits inserted by No. 110/1993 (1) In this section— s. 86. means a person who is— actuary (a) a fellow or an accredited member of the of of ; and (b) approved by the Minister; and (c) appointed by the Board as the actuary for the purpose of this section; means in relation to a benefit affected member reduction under subsection (2) or (3) a person who is a member of the Fund immediately before the date from which that reduction commences to apply; means the amount of benefit after-tax benefit after allowing for income tax calculated at the rates and in the manner as at the date of commencement of section 86 of the Public Sector Superannuation (Administration) Act 1993 applicable to a person aged 55 years or more;
S. 71A inserted by No. 49/1992 s. 25, repealed by No. 4/1996 s. 108(5), new s. 71A inserted by No. 82/1996 s. 63. 71A Early release of benefits s. 71A (1) The Board may approve the early release of part or all of the vested benefit of a member or former member in accordance with the specified standards. (2) The Board must determine— (a) the amount of the benefit to be released; and (b) the method of payment of that amount; and (c) the reduction to be made to the vested benefit— in accordance with the specified standards. S. 71B inserted by No. 110/1993 s. 86. 71B Taxation on benefits s. 71B (1) In this section— actuary means a person who is— (a) a fellow or an accredited member of the of of ; and (b) approved by the Minister; and (c) appointed by the Board as the actuary for the purpose of this section; affected member means in relation to a benefit reduction under subsection (2) or (3) a person who is a member of the Fund immediately before the date from which that reduction commences to apply; after-tax benefit means the amount of benefit after allowing for income tax calculated at the rates and in the manner as at the date of commencement of section 86 of the Public Sector Superannuation (Administration) Act 1993 applicable to a person aged 55 years or more;
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