Commutation of mandatory residual pension under section 21C
13 Commutation of mandatory residual pension under section 21C
If a person who became entitled to a pension under this Act before 1 July 1985 elected to commute the whole of his or her pension (other than the mandatory residual pension) in accordance with this Act, before the repeal of section 21A by the amending Act—
section 21C, as amended by that Act, extends to that mandatory residual pension, and
the person may make one election under section 21C in respect of that mandatory residual pension within the period of 6 months after the commencement of this clause (despite section 21D).
STC may, subject to such terms and conditions as it may impose, accept an election that is made after that period of 6 months and deal with it as if that time had been indefinitely extended if—
it is proved to the satisfaction of STC that an election was not made because—
the person entitled to make the election did not know of the person’s right to make the election, or
circumstances substantially beyond the person’s control prevented the person’s making an election, and
STC is satisfied that in the circumstances of the case it is desirable that the election should be accepted.
This clause does not authorise the commutation of a pension payable in respect of children.
In this clause—
mandatory residual pension means any amount of pension per fortnight that a person was not entitled to commute under section 21A (1), (1A), (1B) or (1C), as in force immediately before the repeal of those provisions by the amending Act.
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