32Pension rights—total and permanent invalidity

32 Pension rights—total and permanent invalidity

32 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 a benefit would have been payable to that contributor under 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—

(c) clause 42 (employer-financed pension—invalidity without reversion), or

(d) 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 and prospective benefit points.

(3) If the transferred contributor concerned 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 towards the payment of a lump sum benefit in accordance with section 37 or 39 of the current Act, as the case may require.