73Election to convert certain pensions in 1977

73 Election to convert certain pensions in 1977

73 Election to convert certain pensions in 1977

(1) A person in receipt of a pension under—

(a) section 26 (7) (b) may elect to convert his pension to a pension under section 26 (7) (a),

(b) section 26 (7) (d) may elect to convert his pension to a pension under section 26 (7) (c), or

(c) section 29 (2) (a) (ii) may elect to convert her pension to a pension under section 29 (2) (a) (i).

(2) An election under subsection (1) may only be made during a period determined by the Minister and specified in the Gazette.

(3) Only one period may be determined under subsection (2), and the period shall—

(a) commence before 1 May 1977,

(b) end before 1 August 1977, and

(c) be not less than 2 months in length.

(4) The pension payable to a person consequent on an election under subsection (1) taking effect is the amount that, in the opinion of the Board, is the pension that would be payable if—

(a) the pension, and

(b) where the pension is calculated by reference to the pension payable to that person’s deceased spouse—the lastmentioned pension,

had always been payable under section 26 (7) (a) or (c) or section 29 (2) (a) (i), as the case may require.

(5) Any necessary adjustment shall be made in the amount of pension payable for any period before, as well as after, an election under subsection (1) to convert the pension takes effect.

s 73: Ins 1977 No 56, Sch 1 (7).