State Authorities Superannuation Act 1987

A contributor who attains 70 years of age must be paid any benefit to which the contributor would be entitled on retirement at that age but may elect to preserve the whole of the benefit.

(Repealed)

An employee may elect, at any time on or after attaining 65 years and before attaining 70 years—

to be paid any benefit to which the employee is entitled at the time of the election, or

to preserve the whole of the benefit,

STC is to adjust the amount of a benefit payable under this section, having regard to any adjustment of a contributor’s account under section 16.

If an amount is preserved under this section, it is payable in the same way as a benefit under section 43.

A person paid a benefit under this section is not entitled—

to any further benefit under this Act in respect of the same period of service, or

to contribute to the Fund or to accrue any further benefits under this Act.