18A
CurrentMembers may transfer to choice of funds scheme
Chapter 2Defined benefits scheme
Part 2.3Entitlements of members
18A Members may transfer to choice of funds scheme
(1)
A member may elect to transfer the amount of the member’s benefits under this chapter to a fund chosen by the member under section 23 (Choice of fund by members).
(2)
An election must be in writing given to the board.
(3)
The board must—
(a)
determine the amount of the member’s benefit under section 15 (Superannuation benefit) as if the member were entitled to receive a benefit under section 12 (Eligibility); and
(b)
pay the amount to the fund.
This Act’s bill:Explanatory statement
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