42Benefit on retrenchment before early retirement age

#### 42 Benefit on retrenchment before early retirement age 42 Benefit on retrenchment before early retirement age > > (1) The benefit provided by this section is payable by STC to a contributor if, before attaining the early retirement age— > > > > > (a) the contributor is retrenched, and > > > > > (b) no other benefit is payable under this Act, and > > > > > (c) STC is provided with a certificate from the contributor’s employer confirming that the contributor has been retrenched and specifying the ground for the retrenchment. > > > (2) The benefit provided by this section for a contributor is an amount equal to the sum of— > > > > > (a) the contributor-financed benefit, and > > > > > (b) an amount of employer-financed benefit calculated in accordance with the formula— > > > > > > %20AND%20(No%3D211)%20AND%20(Year%3D1987)%20AND%20(%22Historical%20Document%22%3D0))/g11.gif) > > > where— > > > > > > E represents the amount to be ascertained, > > > > > > S represents the higher of the contributor’s final salary or the contributor’s final average salary, and > > > > > > A represents the accrued benefit points for the contributor at the contributor’s exit date. > > > (2A) If STC makes a determination under section 45A in relation to a benefit to be provided by this section, the amount of that benefit is reduced by the amount specified in STC’s determination. > > > (3) (Repealed) > > **s 42:** Am 1988 No 136, Sch 1 (8); 1989 No 107, Sch 1; 1991 No 94, Sch 1; 1991 No 95, Sch 9 (10); 1992 No 35, Sch 2; 1996 No 39, Sch 4; 1997 No 42, Sch 1.7 \[13\] \[14\].