28Benefit on retirement or death at or after age 55

28 Benefit on retirement or death at or after age 55

28 Benefit on retirement or death at or after age 55

(1) The benefit provided by this section is payable by the Board where, immediately before, or on or at any time after, attaining the age of 55 years, a contributor retires from, or dies during, employment with an employer and is so payable—

(a) where the benefit becomes payable on retirement of the contributor—to the contributor, or

(b) where the benefit becomes payable on the death of the contributor—to the personal representatives of the contributor or, if appropriate, in accordance with section 57 (payment without grant of probate etc).

(2) The benefit provided by this section is an amount equal to the sum of—

(a) the amount of the contributor’s component, and

(b) the amount of the employer’s component.