21EAmount and payment of benefits under ESSPLAN

21E Amount and payment of benefits under ESSPLAN (1) Except where a benefit is payable under section 21H, a benefit payable to or in respect of a member is an amount equal to the member's account balance at the time the benefit is paid. (2) The benefit is payable in accordance with any relevant specified standards. S. 21E(3) amended by No. 84/1998 s. 11(1), substituted by No. 43/2008 s. 12. (3) Subject to subsection (2), the benefit is payable unless— (a) a member applies in a form approved by the Board to defer payment of benefits or to pay the benefits to an investment fund maintained for that purpose by the Board; and (b) the application is approved by the Board. S. 21E(4) substituted by No. 84/1998 s. 11(2), repealed by No. 43/2008 s. 12. S. 21F inserted by No. 82/1996 s. 11.