28Benefit on total and permanent disablement before age 60

28 Benefit on total and permanent disablement before age 60

28 Benefit on total and permanent disablement before age 60

(1) The benefit provided by this section is payable by the Board to a contributor where, before attaining the age of 60 years, the contributor retires from employment with an employer and the Board is satisfied—

(a) that the retirement of the contributor was due, directly or indirectly, to the permanent physical or mental incapacity of the contributor (not caused by any act or default of the contributor intended to produce that incapacity), and

(b) that the contributor is permanently unable, by reason of that incapacity, to engage, or be employed, in any remunerative occupation in which, in the opinion of the Board, it would otherwise be reasonable to expect the contributor to engage.

(2) The benefit provided by this section is an amount equal to the sum of—

(a) the amount of the contributor-financed benefit,

(b) an amount of employer-financed benefit calculated in accordance with the formula—

where—

E represents the amount to be ascertained,

S represents—

(i) where the contributor has not attained the age of 58 years—the contributor’s final salary,

(ii) where the contributor has attained the age of 58 years but has not attained the age of 59 years—the average of the contributor’s final salary and salary at the last preceding 31 December, or

(iii) where the contributor has attained the age of 59 years—the contributor’s final average salary,

A represents the accrued benefit points for the contributor at the contributor’s exit date, and

P represents—

(i) where an approval under section 12 (additional benefit) is in force in relation to the contributor—the prospective benefit points for the contributor at the contributor’s exit date, or

(ii) where no such approval is in force—nil, and

(c) where an approval under section 12 (additional benefit) is in force—the amount of the additional benefit.