68Preservation of benefits

### 68 Preservation of benefits > > (1)  If a member to whom this Part applies is under the preservation age and is entitled to a benefit other than a death or invalidity benefit, the amount of that benefit which represents – > > > > > > (a) the superannuation guarantee contributions, including interest, that would have been made in respect of that member if he or she had been subject to the SG Act since his or her commencement as a member or 1 July 1994, whichever is the later, until 30 June 1999; and > > > > > > > (b) the difference between the total benefit at the time when the member ceases to be a member and the total benefit that would have been payable if the member had ceased to be a member as at 30 June 1999 – > > > > is to be preserved until the member retires from the workforce after attaining the preservation age and elects, by notice in writing to the Commission, to receive the benefit. > > > (2)  Subject to [subregulation (3)](#GS68@Gs3@EN) , the amount to be preserved is to be transferred – > > > > > > (a) to an account in a superannuation fund elected by that member; or > > > > > > > (b) if an election is not made under [paragraph (a)](#GS23@Gs2@Hpa@EN) within a reasonable period determined by the Commission – to an eligible rollover fund chosen by the Commission. > > > (3)  Despite [subregulation (1)](#GS68@Gs1@EN) , a member who is under the preservation age is entitled to be paid by the Commission the whole or a part of the member's benefit if a regulated superannuation fund would be permitted under the SIS Act to make such a payment in similar circumstances.