29Benefit on partial and permanent disablement before early retirement age

29 Benefit on partial and permanent disablement before early retirement age

29 Benefit on partial and permanent disablement before early retirement age

(1) The benefit provided by this section is payable by the Board to a contributor where, before attaining the early retirement age, 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 perform the duties that the contributor was required to perform before the contributor suffered the incapacity.

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

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

(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’s exit date is 2 or more years before the contributor would attain the early retirement age—the contributor’s final salary,

(ii) where the contributor’s exit date is less than 2 years, but not less than 1 year, before the contributor would attain the early retirement age—the average of the contributor’s final salary and salary at the last preceding 31 December, or

(iii) where the contributor’s exit date is less than one year before the contributor would attain the early retirement age—the contributor’s final average salary, and

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

s 29: Am 1987 No 41, Sch 1 (2).