144Members whose date of admission is on or before 30 June 1996

144 Members whose date of admission is on or before 30 June 1996

The amount of any benefit payable under regulation 136(1) or regulation 141 to a member whose date of admission is on or before 30 June 1996 must not be less than the aggregate of –

(a) the amount payable at the date of leaving service as if the equivalent provision of the governing rules of the former superannuation scheme as at 30 June 1994 were still in effect on the date of leaving service; and

(b) the amount of the member’s benefit on leaving service as at 30 June 1994 under the rules of the Tasmanian Accumulation Scheme at that date, less any tax payable on the transfer of that benefit to the former superannuation scheme together with interest at the scheme earning rate from 30 June 1994 to the date of leaving service; and

(c) 3% of the member’s salary for the period 1 July 1994 to the earlier of 30 June 1996 and the date the member leaves service, less any contributions tax payable on that amount, plus interest at the scheme earning rate to the date of leaving service.