176Minimum benefit

176 Minimum benefit

Despite any other provision of these regulations, the minimum benefit payable to or in respect of a member who ceases to be an employee for any reason is –

(a) if the member was a member of the former superannuation scheme as at 30 June 1992, the aggregate of –

(i) the benefit that would have been payable under these regulations had the member ceased to be an employee at 30 June 1992 and these regulations had then been in force, accumulated with interest from that date at the interest rates; and

(ii) the minimum requisite benefit accrued from 1 July 1992; and

(b) if the member became a member of the former superannuation scheme on or after 1 July 1992, the minimum requisite benefit.