15BHTotal and permanent disablement

15BH Total and permanent disablement

15BH Total and permanent disablement

(1) In this section, the former contributor means a person—

(a) who resigns or is dismissed from the service of an employer,

(b) who had not attained the age of 65 years on or before the date of his resignation or dismissal,

(c) whose resignation or dismissal was, in the opinion of the board, due directly or indirectly to his total and permanent disablement (physical or mental), not caused by his act or default intended by him to produce that disablement, and

(d) who was a contributor immediately before his resignation or dismissal.

(2) Subject to section 15BW, the board shall pay to the former contributor—

(a) the total amount standing to his credit in his servant’s account in the Pension Fund, and

(b) if he was qualified for full or partial additional benefits—a lump sum calculated in accordance with the following formula—

where—

L represents the lump sum so payable,

S represents the former contributor’s final salary, and

P represents the number of the former contributor’s potential pension points (reduced by one-half if he was qualified for partial, but not full, additional benefits).

(3) Subject to subsection (4) and to sections 15BUC and 15BV, the board shall also pay to the former contributor a pension at the annual rate determined in accordance with the following formula—

where—

B represents the annual rate of pension,

S represents the former contributor’s final salary,

A represents the number of the former contributor’s accrued pension points, and

P represents—

(a) if the former contributor was qualified for full additional benefits—the number of his potential pension points,

(b) if the former contributor was qualified for partial, but not full, additional benefits—the number of his potential pension points, reduced by one-half, or