Transfer to State Superannuation Fund or Transport Superannuation Fund
75 Transfer to State Superannuation Fund or Transport Superannuation Fund
S. 75(1) repealed by No. 120/1994 s. 43(3).
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S. 75(2) amended by No. 49/1992 s. 95, repealed by No. 120/1994 s. 43(3).
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An employee who elects to transfer to the State Superannuation Fund or the Transport Superannuation Fund is entitled to convert not more than 50 per cent of his or her lump sum retirement benefit under the State Superannuation Act 1988 or the Transport Superannuation Act 1988 to a pension in accordance with the factors specified in the Schedule.
S. 75(3A) inserted by No. 37/2007 s. 25(1).
An employee who—
elected to transfer to the State Superannuation Fund or the Transport Superannuation Fund; and
becomes an exempt officer on or after attaining the age of 65 years—
is entitled to convert not more than 50 per cent of his or her lump sum retirement benefit under the State Superannuation Act 1988 or the Transport Superannuation Act 1988 to a pension in accordance with the factors specified in the Schedule.
S. 75(4) amended by No. 37/2007 s. 25(2).
Sections 43 and 45 apply to any pension payable in accordance with subsection (3) or subsection (3A).
S. 76 inserted by No. 4/1996 s. 105.
This Act’s bill:Second reading speech
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