9BPreserved benefit

#### 9B Preserved benefit 9B Preserved benefit > > (1) A member of the police force who becomes entitled to a superannuation allowance under section 7 (Superannuation allowance except where member hurt on duty) or section 7AA (Superannuation allowance on early retirement) or a payment under section 17 (Refund of deductions) may elect to make provision instead for the benefit provided by this section. > > > (1A) (Repealed) > > > (2) Where any such election made by a member of the police force takes effect, the member is not entitled to any benefit under section 7 or 7AA or any payment under section 17. > > > (3) The benefit provided by subsection (6), (6AA), (6AB) or (6AC), or by section 14M (1) (b), is payable by STC from the Fund— > > > > > (a) when the former member— > > > > > > > (i) has benefits preserved in the Fund under subsection (6), (6AA), (6AB) or (6AC) and has attained the age of 55 years, or > > > > > > > (ii) has benefits preserved in the Fund under section 14M (1) (b), > > > > > > and makes an application in writing for payment of the benefit, or > > > > > (b) if the former member dies without making such an application, or > > > > > (c) if it is a benefit provided by subsection (6), (6AA), (6AB) or (6AC)—on STC being satisfied that the former member is incapable, from an infirmity of body or mind, of being employed in any remunerative occupation in which, in the opinion of STC, it would otherwise be reasonable to expect the former member to engage, or > > > > > (d) on STC being satisfied that the former member has attained the age of 65 years and is employed for less than 10 hours a week, or > > > > > (e) on STC being satisfied that the former member has attained the age of 70 years and is employed for more than 10 but less than 30 hours a week, or > > > > > (f) on STC being satisfied that the former member has retired from the work force. > > > (3A) The benefit provided by subsection (6) or (6AA) is not payable under subsection (3) to a person who elected to provide for the benefit under section 5B unless the additional requirements of section 5B (5) (d) are satisfied. > > > (4) Subject to subsection (3), the benefit provided by subsection (6), (6AA), (6AB) or (6AC) is payable— > > > > > (a) except where the former member has died—to the former member, > > > > > (b) if the former member has died and is survived by a spouse or de facto partner—to the spouse or de facto partner, or > > > > > (c) if the former member has died but is not survived by a spouse or de facto partner—to the former member’s personal representatives or (if appropriate) in accordance with section 18B. > > > (5) The benefit provided by subsection (9) is payable by STC from the Fund to the former member on the former member electing to take that benefit and the election taking effect— > > > > > (a) after the election made under subsection (1) takes effect, and > > > > > (b) before the benefit provided by subsection (6), (6AA), (6AB) or (6AC) becomes payable to, or in relation to, the former member. > > > (6) Subject to subsection (6A), the benefit provided by this subsection is a gratuity that is the greater of the following 2 amounts— > > > > > (a) the amount calculated by multiplying by 2.5 the amount that would have been payable under section 17 (Refund of deductions) if interest were not payable under that section, > > > > > (b) the amount calculated in accordance with the following formula— > > > > > > %20AND%20(No%3D028)%20AND%20(Year%3D1906)%20AND%20(%22Historical%20Document%22%3D0))/g7.gif) > > > where— > > > > > > L represents the gratuity payable. > > > > > > E represents the lump sum that would have been payable if the former member had continued as a member of the police force until the age of 55 years at the same attributed salary of office, and had always worked as a full-time member of the police force and had wholly commuted the superannuation allowance otherwise payable to the former member. > > > > > > S represents the total number of months of both full-time and part-time service that has been completed by the former member. > > > > > > P represents the number of additional months of full-time service that the former member would have completed if the former member had continued as a full-time member of the police force until the age of 55 years. > > > > > > A represents the age in years of the former member (including fractions of a year on a completed months’ basis) at the date the former member ceased to be a member. > > > > > > ESR represents the equivalent service ratio of the member as at the date the former member ceased to be a member. > > > (6AA) Subject to subsection (6A), the benefit provided by this subsection is, in the case of a former member of the police force who— > > > > > (a) was an executive officer, and > > > > > (b) elected to make provision for a benefit under this section in accordance with section 5B (1) (b), and > > > > > (c) has attained the age of 55 years, > > > > the lump sum benefit that would be payable if the former member— > > > > > (d) had become entitled to the allowance prescribed by section 7 (1) or section 7AA (2) (whichever is applicable), and > > > > > (e) had elected to commute the whole of the allowance in accordance with section 14J (3). > > > (6AB) Subject to subsection (6A), the benefit provided by this subsection is payable to a former contributor who was entitled to a superannuation allowance under section 7 and who elected to make provision for a benefit under this section. The benefit is the lump sum benefit that would be payable if the former contributor had elected to commute the whole of the allowance under section 14J, and is to be adjusted from time to time at the rate fixed by STC under section 16 (1) of the [State Authorities Superannuation Act 1987](/view/html/inforce/current/act-1987-211). > > > (6AC) Subject to subsection (6A), the benefit provided by this subsection is payable to a former contributor who was entitled to a superannuation allowance under section 7AA and who elected to make provision for a benefit under this section. The benefit is the lump sum benefit that would be payable if the former contributor had elected to commute the whole of the allowance under section 14J, and is to be adjusted from time to time at the rate fixed by STC under section 16 (1) of the [State Authorities Superannuation Act 1987](/view/html/inforce/current/act-1987-211). > > > (6A) If STC has made a determination under section 14AA in relation to a benefit provided by subsection (6), (6AA), (6AB) or (6AC), the amount of the benefit is reduced by the amount specified in STC’s determination. > > > (7) When a benefit becomes payable under subsection (6) the amount of the gratuity as determined under that subsection shall be adjusted in accordance with the following formula— > > > > %20AND%20(No%3D028)%20AND%20(Year%3D1906)%20AND%20(%22Historical%20Document%22%3D0))/g8.gif) > > where— > > > > L2 represents the amount of the gratuity as adjusted. > > > > L1 represents the amount of the gratuity before it is adjusted. > > > > A represents the index number in the Consumer Price Index (All Groups Index) for Sydney last published by the Australian Statistician before the date the gratuity becomes payable. > > > > B represents the index number in the Consumer Price Index (All Groups Index) for Sydney last published by the Australian Statistician before the date the election of the member under subsection (1) took effect. > > > (7A) Despite subsection (7), if the Australian Statistician changes the reference base for the Consumer Price Index (All Groups Index) for Sydney, then, for the purposes of the application of this section after the change takes place, regard is to be had only to Index numbers expressed in terms of the new reference base. > > > (8) For the purposes of S in the formula in subsection (6) (b), if the total number of months of both full-time and part-time service is not a whole number of months, any part of a month is to be disregarded. > > > (8A) For the purposes of P in the formula in subsection (6) (b), a part of a month of full-time service is to be disregarded. > > > (9) The benefit provided by this subsection is a gratuity that is equal to the sum of— > > > > > (a) the amount of the payment under section 17 that would have been payable to the former member when he or she ceased to be a member if the former member had not made the election under subsection (1), and > > > > > (b) interest on the amount referred to in paragraph (a), from the date on which the former member ceased to be a member of the police force, at the rates fixed from time to time by STC under section 16 of the [State Authorities Superannuation Act 1987](/view/html/inforce/current/act-1987-211). > > > (10) An election under this section must be made in such form, and within such period, as may be specified by STC. > > > (11) If the former member of the police force becomes entitled to a superannuation allowance under section 10— > > > > > (a) before a gratuity is paid under this section—the gratuity ceases to be payable and the member shall be paid the superannuation allowance under section 10, or > > > > > (b) after a gratuity is paid under this section—the amount of the gratuity shall be deducted from the superannuation allowance under section 10 in such instalments and at such times as STC may determine. > > > (12) If a person becomes entitled to a superannuation allowance under section 12 as a consequence of the death of the former member of the police force— > > > > > (a) before a gratuity becomes payable under this section—the gratuity ceases to be payable and the person shall be paid the superannuation allowance under section 12, or > > > > > (b) after a gratuity is paid under this section—the amount of the gratuity shall be deducted from the superannuation allowance under section 12 in such instalments and at such times as STC may determine. > > > (13) If, as a result of the invalidity of a former member of the police force, the former member becomes entitled to be paid a superannuation allowance under section 7, or a gratuity under section 14, before a gratuity is paid under this section, then— > > > > > (a) a gratuity under this section ceases to be payable, and > > > > > (b) STC must pay to or in respect of the former member such a superannuation allowance or, if the case requires, a gratuity under section 14. > > > (14) If, as a result of the invalidity of a former member of the police force, the former member becomes entitled to be paid— > > > > > (a) a superannuation allowance under section 7, or > > > > > (b) a gratuity under section 14, > > > > after a gratuity has been paid under this section, STC must deduct the amount of the gratuity paid under this section from that allowance or, as the case may be, from the gratuity under section 14, in such instalments and at such times as it may determine. > > **s 9B:** Ins 1987 No 220, Sch 3 (3). Am 1988 No 134, Sch 1 (5); 1990 No 48, Sch 2; 1991 No 95, Sch 5 (7); 1992 No 35, Sch 1; 1992 No 57, Sch 1; 1993 No 111, Sch 2 (6); 1996 No 39, Sch 4; 1996 No 92, Sch 1.6 (4); 1997 No 42, Sch 1.4 \[6\]; 1998 No 72, Sch 1.2 \[24\]–\[30\]; 1999 No 86, Sch 1.3 \[13\]; 2006 No 53, Sch 1.2 \[5\] \[6\]; 2007 No 25, Sch 2 \[14\] \[15\].