24Benefit to be preserved

#### 24 Benefit to be preserved 24 Benefit to be preserved > > (1) The basic benefit, any additional employer contributions benefit and any Commonwealth co-contribution benefit in respect of a person must be preserved by STC if the basic benefit is not otherwise payable under this Act. > > > (1A) Any section 16A employer contribution or Commonwealth co-contribution received by STC in respect of a former employee while a basic benefit is preserved by STC in respect of the former employee must be preserved by STC and is taken to be a preserved additional employer contributions benefit or a preserved Commonwealth co-contribution benefit (as the case may be). > > > (1AA) Any existing preserved additional employer contributions benefit in respect of a former employee is to be increased by the amount of a section 16A employer contribution preserved under subsection (1A) in respect of the former employee. > > > (1B) Any existing preserved Commonwealth co-contribution benefit in respect of a former employee is to be increased by the amount of a Commonwealth co-contribution preserved under subsection (1A) in respect of the former employee. > > > (2) The basic benefit, any additional employer contributions benefit and any Commonwealth co-contribution benefit must also be preserved by STC when— > > > > > (a) an executive officer who is an optional member of the Aware Super Fund ceases to be a contributor to any other superannuation scheme established by or under an Act, or > > > > > (b) an executive officer who is not a member of any other superannuation scheme established by or under an Act becomes a member of the Aware Super Fund, or > > > > > (c) an employee becomes eligible under another superannuation scheme for a benefit that is of the same kind as a benefit provided by this Act and STC has not been requested to pay the benefit to another superannuation scheme. > > > (3) (Repealed) > > > (4) When the preserved basic benefit, any preserved additional employer contributions benefit and any preserved Commonwealth co-contribution benefit is to be paid out by STC, it is payable— > > > > > (a) if the former employee has not died—to the former employee, or > > > > > (b) if the former employee has died and is survived by a spouse or de facto partner—to the former employee’s spouse or de facto partner, or > > > > > (c) if the former employee has died and is not survived by a spouse or de facto partner—to the personal representatives of the former employee or, if appropriate, in accordance with section 31 (Payment without grant of probate etc). > > > > > (d) (Repealed) > > > (5) (Repealed) > > **s 24:** Am 1989 No 107, Sch 1; 1989 No 229, Sch 1; 1990 No 48, Sch 2; 1991 No 17, Sch 1; 1991 No 96, Sch 6. Subst 1992 No 35, Sch 1. Am 1996 No 39, Sch 4; 1997 No 42, Sch 1.6 \[13\]–\[16\]; 1999 No 86, Sch 1.6 \[6\]; 2005 No 52, Sch 4 \[17\]–\[21\]; 2013 No 69, Sch 1 \[5\] \[9\]–\[11\]; 2025 No 48, Sch 2.14\[4\].