Payment on death of Member, Member to select type of
193 Payment on death of Member, Member to select type of
When a person becomes a Retirement Income Member he or she is to select —
whether the benefit to be paid on the Member’s death (if he or she dies while still a Retirement Income Member) is to be —
a lump sum benefit under regulation 194; or
a reversionary pension under regulation 195;
and
if the Member selects a reversionary pension, the person to whom that pension is to be paid,
and give notice of those selections to the Board.
The person selected under subregulation (1)(b) must be a partner or a dependant of the Member.
If a Retirement Income Member has not given notice of the Member’s selection to the Board before the Member’s first pension day, or the Member’s selection under subregulation (1)(b) does not comply with subregulation (2), the Member is taken to have selected a lump sum death benefit.
[Regulation 193 inserted: Gazette 19 Mar 2003 p. 832; amended: Gazette 1 Dec 2004 p. 5706.]
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.