Minimum benefit for transferred contributors not qualified
13 Minimum benefit for transferred contributors not qualified
This clause applies to a transferred contributor other than one who—
becomes covered for the additional benefit under the current Act, or
is taken, by virtue of clause 4 (transferred contributors), to be covered for that additional benefit,
and who in either case became a contributor to the former Fund under section 15AO, 15AP or 15AQ of the former Act.
If—
a benefit becomes payable in respect of a transferred contributor to whom this clause applies under section 38 of the current Act (benefit on death before early retirement age), and
no election is made under clause 17 (pension rights—death),
the employer-financed benefit in respect of that contributor shall be not less than the notional accumulation.
If a benefit under—
section 39 of the current Act (benefit on total and permanent invalidity before early retirement age), or
section 40 of that Act (benefit on partial and permanent invalidity before early retirement age),
becomes payable to a transferred contributor to whom this clause applies, the employer-financed benefit in respect of that contributor shall be not less than the notional accumulation.
If—
a benefit becomes payable to or in respect of a transferred contributor to whom this clause applies under section 37 of the current Act (benefit at or after early retirement or on death at or after early retirement age),
no election is made under clause 15 (pension rights—exit after age 60), and
the employer-financed benefit would, but for the operation of this subclause, be reduced by the operation of clause 10 (benefit to be adjusted in certain circumstances),
the employer-financed benefit in respect of that contributor shall be not less than the notional accumulation.
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