Employer subsidy not to be of greater benefit if service not continuous
47B Employer subsidy not to be of greater benefit if service not continuous
In this section withdrawal benefit means—
a benefit payable in accordance with section 38A (3) or (4), or
any other benefit payable to or in respect of a person on cessation of the person’s employment otherwise than by reason of the person’s death, where the benefit is wholly or partly payable pursuant to or from a retirement scheme, fund or arrangement to or in respect of which an employer or a public or local authority constituted by an Act makes, or is liable to make, a payment in respect of a person employed by the employer or authority.
Where a withdrawal benefit is paid, or is or will become payable, to a person and the person subsequently contributes to the Fund without complying with section 38C, any benefit (other than a benefit payable pursuant to section 38 or a benefit referred to in paragraph (a) of subsection (1)) payable in respect of that person shall be reduced in a manner determined by STC having regard to the amount of any withdrawal benefit previously paid to the person.
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.