15BNDeath during service where no benefit under sec 15BM

15BN Death during service where no benefit under sec 15BM

15BN Death during service where no benefit under sec 15BM

(1) In this section the former contributor means a contributor who dies while unmarried.

(2) Subject to sections 15BW and 17BA and to subsection (7), the board shall, on application in writing in a form approved by the board made to the board by the personal representative of the former contributor, pay to that personal representative—

(a) the total amount at credit in the former contributor’s servant’s account in the Pension Fund,

(b) if the former contributor had completed 10 or more years’ approved service—a lump sum calculated in accordance with the following formula—

where—

L represents the lump sum so payable,

T represents the total amount referred to in paragraph (a), and

Y represents the number (not exceeding 40) of the former contributor’s completed periods of 12 months of approved service, and

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

where—

L represents the lump sum 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 the contributor was qualified for partial, but not full, additional benefits).

(3) Subject to subsections (6) and (7), where the former contributor became a contributor under section 15AO, 15AP or 15AR, or became a contributor under section 15AQ but is not a former contributor referred to in subsection (4), the board shall, on application in writing in a form approved by the board made to the board by the personal representative of the former contributor, pay to that personal representative instead of the amount referred to in subsection (2)—

(a) the sum of the amounts referred to in subsection (2) (a), (b) and, if applicable, (c), or

(b) the sum of—