36Benefit for full benefits contributors on death, terminal medical condition or retirement due to total and permanent incapacity

36 Benefit for full benefits contributors on death, terminal medical condition or retirement due to total and permanent incapacity

(1)  Subject to subregulation (2) , if, before attaining the age of 65 years, a full benefits contributor –

(a) dies; or

(ab) [Regulation 36 Subregulation (1) amended by S.R. 2022, No. 11, Applied:31 Mar 2022] is determined by the Commission under regulation 96A to have a terminal medical condition and that contributor subsequently retires on the grounds of having a terminal medical condition within 6 months after the date of that determination; or

(b) [Regulation 36 Subregulation (1) amended by S.R. 2022, No. 11, Applied:31 Mar 2022] is determined by the Commission to be suffering from total and permanent incapacity in accordance with regulation 96 , and that contributor subsequently retires on the grounds of ill health within 6 months after the date of the Commission's determination –

a lump sum benefit is to be calculated in accordance with the following formula:

where –

LS is the lump sum benefit payable;

FAS(3) is –

(a) [Regulation 36 Subregulation (1) amended by S.R. 2022, No. 11, Applied:31 Mar 2022] the average annual salary paid or payable to the contributor in respect of the period of 3 years immediately preceding his or her death or retirement due to total and permanent incapacity or a terminal medical condition; or

(b) [Regulation 36 Subregulation (1) amended by S.R. 2022, No. 11, Applied:31 Mar 2022] in the case of a contributor whose length of service at the time of his or her death or retirement due to total and permanent incapacity or a terminal medical condition is less than 3 years, the average annual salary paid or payable in respect of the actual period of service;