44Retrenchment of revised scheme member

44 Retrenchment of revised scheme member (1) A revised scheme member who is retrenched is entitled— (a) to a lump sum payment of an amount equal to— ![](); or (b) to elect either to take a lump sum payment under paragraph (a) or a deferred pension equal to— ![]()— where N, YA, YP and C60 have the same meanings as in section 33(1) and C has the same meaning as in section 46(2). (2) If an election is not made under subsection (1)(b) the Board must determine the benefits to which the revised scheme member is entitled. (3) If a revised scheme member who has been retrenched re-enters the service— S. 44(3)(a) amended by No. 81/1988 s. 28(g). (a) his or her entitlement to a deferred pension under subsection (1)(b) is not affected; and (b) he or she must contribute under Part 7 and is not entitled to claim any further benefit in respect of his or her previous service.