15BIPartial and permanent disablement

15BI Partial and permanent disablement

15BI Partial 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 60 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 partial (but not 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 and to subsection (3), 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) 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

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

(3) Where the former contributor became a contributor under section 15AO, 15AP, 15AQ or 15AR, the board shall, subject to section 15BW, pay to the former contributor instead of the amount referred to in subsection (2) an amount equal to the sum of—

(a) the amount referred to in subsection (2) (a), and

(b) the greater of—

(i) the lump sum referred to in subsection (2) (b), and

(ii) the notional accumulation for the former contributor.

s 15BI: Ins 1977 No 46, Sch 1 (4). Am 1980 No 191, Sch 3 (6).