16Pension rights—total and permanent invalidity

16 Pension rights—total and permanent invalidity

16 Pension rights—total and permanent invalidity

(1) If—

(a) a transferred contributor becomes entitled to be paid the benefit provided by section 39 of the current Act (benefit on total and permanent invalidity before early retirement age), or

(b) a transferred contributor retires and thereby becomes entitled to be paid the benefit provided by section 37 of the current Act (benefit at or after early retirement or on death at or after early retirement age) and the Board is satisfied that that contributor would have been entitled to be paid the benefit provided by section 39 of that Act if the early retirement age had been 60 years,

that contributor may elect to convert to a pension in accordance with clause 43 (employer-financed pension—invalidity with reversion) benefit points to which that contributor is entitled.

(2) The benefit points to which the election referred to in subclause (1) relates are the transferred contributor’s accrued benefit points, prospective benefit points and guaranteed pension points.

(3) If the transferred contributor does not elect to convert all of the benefit points specified in subclause (2) into a pension, the proportion of accrued benefit points and prospective benefit points which was not so converted shall be applied to the payment of a lump sum in accordance with section 37 or 39 of the current Act, as the case may require.