11Transferred benefit points accruing to insurance policy holders

11 Transferred benefit points accruing to insurance policy holders

11 Transferred benefit points accruing to insurance policy holders

(1) A transferred contributor to whom clause 4 applies is entitled, in respect of each whole month described in subclause (2), to be credited with transferred benefit points equal to one-twelfth of the number of benefit points applying in relation to the transferred contributor for that month in accordance with that subclause.

(2) For each whole month:

(a) in which the total sum assured in respect of such a transferred contributor under Part 2 of the earlier Act was a sum assured specified in Column 1 in Schedule 1, and

(b) which occurred during a period specified in the heading to Column 2, 3, 4, 5 or 6 in the Schedule,

the number of benefit points appearing opposite that sum assured in the Column for that period applies in relation to the transferred contributor.