Pensions at retiring age
52C Pensions at retiring age
A person referred to in section 52A (1) who has not received any other benefit under this Division and who applies to STC to receive a pension under this section is entitled to receive that pension—
on the person’s attaining the maturity age,
where any employment which, on the person’s ceasing to be a contributor, the person was entitled to count as service for the purposes of section 21 was, in total, for less than a period of 10 years—on the expiration of such time after the person ceased to be a contributor as is equivalent to the balance of that period, or
on receipt by STC of the application,
whichever is the latest.
The pension provided by this section is not payable under subsection (1) to a person who elected to provide for the benefit under section 20AB unless the requirements of section 20AB (5) (d) are satisfied.
The pension which a person is entitled to receive under this section is a pension of an amount per fortnight equivalent to the sum of—
the employee-contributed pension component calculated in relation to the person, and
the employer-financed pension component calculated in relation to the person and as adjusted by the operation (if any) of section 52B.
This Act applies to and in respect of a person who is entitled to a pension under this section in the same way as it applies to and in respect of a contributor who is entitled to a pension under section 27 and so applies as if the pension payable under this section were a pension payable under that section.
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