Div 4Payment of benefits

Division 4—Payment of benefits 14—Payment of benefits (1) Any payment to be made under this Act to a contributor, a deceased contributor's estate, a spouse or child of a deceased contributor or to another fund or scheme on behalf of a contributor must be made by the Treasurer out of the Consolidated Account (which is appropriated to the necessary extent) or out of a special deposit account established by the Treasurer for that purpose. (2) A proportion of a pension or lump sum paid to, or in relation to, a contributor under this Act, other than an amount paid under Division 3 Subdivision 2, will be charged against the contributor's contribution account to the extent of the amount standing to the credit of the account or, if the account has been closed, will be charged against the relevant division of the Fund. (3) The proportion for the purposes of subsection (2) will be equivalent to the proportion of the benefits payable in the future under Part 5 that can, in the opinion of the Board, be met from the division of the Fund relating to contribution accounts. (3a) The opinion of the Board must be based on the most recent triennial report under section 15(4). (3b) If a payment under subsection (1) relates to the transfer of an amount to the South Australian Superannuation Board under section 13C, an amount equal to the amount of the payment is to be charged against the appropriate account and the Treasurer must reimburse the Consolidated Account or special deposit account by charging the Fund with that amount. (4) The Treasurer may reimburse the Consolidated Account or special deposit account by charging the relevant division of the Fund with the amount of any payment or proportion of any payment that is, in pursuance of this Act, to be charged against a contributor's contribution account.