21HAmount and payment of disability or death benefits

21H Amount and payment of disability or death benefits (1) Subject to subsection (2) and section 21E, in the case of the disability or death of a member the benefit is to be equal to— (a) the member's account balance at the time the benefit is paid; and S. 21H(1)(b) amended by No. 43/2008 s. 16(1). (b) where the member died or became disabled while disability and death benefits cover for him or her under section 21F or 21FA was in force, the amount of any insurance proceeds received by the Board under an insurance contract entered into under section 21G, and interest on the basis determined by the Board in respect of the period up to the time the benefit is paid. (2) A disability benefit that is payable under this Part is payable to that member. S. 21H(3) amended by No. 43/2008 s. 16(2). (3) Unless subsection (4) applies, a death benefit in respect of a member that is payable under this Part is payable to such one or more of the member's dependants and legal personal representatives and in such proportions as the Board in its absolute discretion determines. S. 21H(4) inserted by No. 43/2008 s. 16(3). (4) Subject to any specified standards, if the member has given the Board a notice in a form approved by the Board, the Board must pay the death benefit in respect of the member that is payable under this Part in accordance with the notice. S. 21I