75Deferred benefits

75 Deferred benefits

(1) The deferred benefits applicable under this Division to or in respect of a person who is a member of the scheme shall, subject to this Division, be benefits of the same nature, and payable in the same circumstances, on the same conditions and, upon his death, to the same persons (if any), as the benefits that would have been payable to or in respect of the person under this Act if he had not retired from the Defence Force and had not made the election by virtue of which the deferred benefits became applicable to or in respect of him and: (a) if paragraph 78(2)(a) applies to him: (i) he had retired from the Defence Force on whichever date specified in subparagraph (i) or (ii) of that paragraph is applicable to him; and (ii) in a case where his total period of effective service is less than 20 years—his total period of such service were 20 years; (b) if paragraph 78(2)(b) applies in relation to him—he had, immediately before his death become entitled, by virtue of this subsection, to retirement pay under section 23; (c) if paragraph 78(2)(c) applies to him—he had retired from the Defence Force on whichever date specified in that paragraph is applicable to him; (d) if paragraph 78(2)(d) applies to him—he had retired from the Defence Force on the date specified in that paragraph; (e) if paragraph 78(2)(e) applies to him and his total period of effective service is less than 15 years—his total period of such service were 15 years; and (f) if paragraph 78(2)(e) applies to him and he had not attained the age of 60 years before he ceased to be an eligible member of the Defence Force—he had retired from the Defence Force on the date on which he attained that age. (2) Subject to subsection 78(3), no period after the actual retirement of a member of the scheme from the Defence Force shall, by virtue of the operation of subsection (1), be treated as a period of effective service in relation to him for the purposes of this Act. (3) Where, by virtue of the operation of subsection (1), a person becomes entitled to retirement pay under section 23, then, subject to subsection (3A), the rate at which that retirement pay is payable to the person is, in lieu of the rate provided for in that section, an amount per annum equal to 1.75% of the product of the number of complete years included in his total period of effective service and the amount of the annual rate of pay applicable to him immediately before his actual retirement. (3A) If: (a) because of subsection (1), a person becomes entitled to retirement pay under section 23; and (b) the person’s surcharge deduction amount exceeds the amount of the person’s productivity superannuation benefit; the rate at which retirement pay is payable to the person is (instead of the rate provided for in section 23) an amount per annum worked out by using the formula: Start formula Basic rate minus start fraction Excess over Conversion factor end fraction end formula where: