138Death benefit

138 Death benefit

(1)  Subject to subregulation (2) , on the death of a member in service, the Commission must pay –

(a) in respect of a member who has not attained the age of 55 years at the date of his or her death – an amount equal to the benefit which would have been payable under regulation 136 (1) had the member remained in service until the member attained the age of 55 years and assuming, for the prospective period from the date of the member’s death until the day on which the member would have attained the age of 55 years, that the member’s contribution rate is 6% and the member’s salary remains unchanged over that period; or

(b) in respect of any other member – an amount equal to the benefit which would have been payable under regulation 136 (1) had the member retired on the day of his or her death.

(2)  In respect of a member whose date of admission was on or before 30 June 1994, the benefit payable under subregulation (1) must not be less than the aggregate of the benefit which would have been payable under the SAF Agreement in force at that date and the death benefit under the SAF Agreement at that date.