42Entitlement to pensions

42 Entitlement to pensions

s. 42

(1) Every member of the force to whom this Part applies shall upon his retirement be entitled to receive an ordinary pension for life.

S. 42(2) substituted by No. 7081
s. 17.

(2) Any member of the police force to whom this Part continues to apply after the transfer day within the meaning of Part I of the Superannuation Act 1963 and who at that time or at any time thereafter holds the rank of Chief Commissioner and who elects to retire at any time after attaining the age of sixty years and before attaining the age of sixty-five years shall notwithstanding anything to the contrary in this Act be entitled upon his retirement to receive a pension for life in accordance with the following provisions—

(a) the pension shall be a percentage as hereinafter provided of the pension which he would have received on retirement upon attaining the age of sixty-five years if his salary and years of service at that time were the same as on the actual day of retirement;

(b) if he retires on his sixtieth birthday the appropriate percentage shall be Seventy-five per centum;

(c) if he retires at any time after his sixtieth birthday the appropriate percentage shall be Seventy-five per centum plus an additional Five-twelfths per centum for every completed calendar month by which his age at the day of retirement is greater than on his sixtieth birthday.

S. 42A inserted by No. 9460
s. 4(b).