Entitlement to pension
51A Entitlement to pension
S. 51A(1) amended by No. 94/2005 s. 33(1).
The entitlement of a former member to receive a pension under this Act ceases if any part of any entitlement under this Act or membership of the State Superannuation Fund and the Fund is recognised as entitlement towards any benefit in a complying superannuation fund and there is a transfer of assets from the Fund to that complying superannuation fund in accordance with subsection (2), on the day determined by the Board.
The Board must on the recommendation of an actuary transfer from the Fund to the relevant complying superannuation fund an amount certified by the actuary to be equivalent to the former member's entitlement under this Act.
The Board is released from any liability to make any further payments to, or in respect of, any entitlement of the former member or of any of his or her dependants.
S. 51A(4) amended by No. 94/2005 s. 33(2).
The entitlement of a former member to receive a pension under this Act does not cease if the entitlement under this Act or membership of the State Superannuation Fund and the Fund is not recognised as entitlement towards any benefit in a complying superannuation fund.
This Act’s bill:Second reading speech
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