86Associate B benefit

86 Associate B benefit

(1) Associate B benefit is a benefit: (a) created as associate B benefit under Part 13; and (b) preserved in the Scheme for a person; and (c) indexed annually at the long term bond rate. (2) A person is entitled to be paid associate B benefit when the person reaches his or her preservation age. (3) On reaching the age of 55, the person may request that CSC roll over or transfer the associate B benefit to a regulated superannuation fund, an RSA, or an approved deposit fund nominated by the person, to be held for the benefit of the person. (4) When the benefit becomes payable in accordance with subrule (2), the person may request that CSC: (a) pay the benefit to the person as a lump sum; or (b) roll over or transfer the benefit to a regulated superannuation fund, an RSA, or an approved deposit fund nominated by the person, to be held for the benefit of the person. (5) If a person does not make a request under subrule (3) or (4), the benefit must be paid to the person as a lump sum when the person reaches the age of 65.