13Transferred benefit points accruing to contributors who have made additional contributions to the Provident Fund

13 Transferred benefit points accruing to contributors who have made additional contributions to the Provident Fund

13 Transferred benefit points accruing to contributors who have made additional contributions to the Provident Fund

(1) A transferred contributor who is a former variable rate Provident Fund contributor is, for each month during which the contributor made contributions to the Provident Fund, entitled to be credited with 0.06 of a transferred benefit point for each 1 per cent of his or her salary contributed to that Fund.

(2) For the purposes of this clause:

(a) a transferred contributor referred to in subclause (1) is to be taken to have contributed one-third of the contributions that the contributor actually made to the Provident Fund during the period beginning with the date on which the contributor first became a contributor to that Fund and ending with 30 June 1985, and

(b) such a contributor is to be taken to have contributed one-half of the contributions that he or she actually made to the Provident Fund during the period beginning with 1 July 1985 and ending with 30 April 1990, and

(c) contributions may to the Provident Fund in respect of a year (or part of a year) are to be taken to have been made at monthly intervals, and

(d) the contributor’s salary is to be taken to have remained the same throughout a year, or any relevant part of a year, during which the contributor made contributions to the Provident Fund.