33Benefit on retrenchment before age 55

33 Benefit on retrenchment before age 55

33 Benefit on retrenchment before age 55

(1) The benefit provided by this section is payable by the Board to a contributor where, before attaining the age of 55 years, the contributor is retrenched by his or her employer and no other benefit is payable under this Act.

(2) The benefit provided by this section for a contributor with a membership period of 3 years or more is an amount equal to the sum of—

(a) the contributor’s component, and

(b) the employer’s component.

(3) The benefit provided by this section for a contributor with a membership period of less than 3 years is the amount of the contributor’s component.

(4) In ascertaining whether or not a contributor has a membership period of 3 years or more for the purposes of this section, such a period shall be taken to include any period during which he or she was a contributor to the Public Authorities Superannuation Fund provided that—

(a) the contributor’s membership of the Fund and the Public Authorities Superannuation Fund was continuous, and

(b) the contributor was, by virtue of a provision of the Public Authorities Superannuation Act 1985, required to make provision for the preservation of a benefit under that Act in respect of employment by an employer within the meaning of that Act.

s 33: Am 1987 No 42, Sch 1 (3).