54Benefit on retirement through disability

54 Benefit on retirement through disability

S. 54(1) amended by No. 110/1993 ss 71(3), 78(3)(a).

(1) Subject to subsection (1A), if a new scheme member retires on the ground of disability before he or she attains 60 years of age he or she is entitled to a pension for life at the rate of one‑twelfth of the accrued retirement benefit which would have been payable if the new scheme member had retired at 60 years of age and was contributing from the date of retirement until the date on which he or she would attain 60 years of age at the higher of—

(a) 5 per cent of salary; or

(b) the highest rate at which the new scheme member has contributed for more than half of the 3 years immediately preceding retirement;

S. 54(1)(c) repealed by No. 110/1993 s. 78(3)(b).

as if his or her final average salary at the date of retirement had been his or her final average salary at the date on which he or she would attain 60 years of age.

S. 54(1A) inserted by No. 110/1993 s. 78(4).

(1A) In the case of a prescribed fire-fighter, for the purposes of this section, the contribution rate is to be the highest rate at which the prescribed firefighter would then have been entitled to contribute and subsection (1) applies as if for "60" there were substituted "55".

S. 54(1B) inserted by No. 110/1993 s. 78(4), amended by No. 120/1994
s. 61.

(1B) Despite subsection (1A), no benefit calculated under this section shall be less than the benefit that would have been payable had the new scheme member retired due to disability before he or she attained 60 years of age immediately before section 78(4) of the Public Sector Superannuation (Administration) Act 1993 came into operation.

S. 54(2) amended by No. 81/1988 s. 30(c).

(2) If a new scheme member continues to receive a pension under subsection (1) until he or she attains 65 years of age, he or she may elect to receive a lump sum equal to his or her accrued retirement benefit calculated at the date of retirement instead of continuing to receive a pension under subsection (1).

(3) Despite subsections (1) and (2), the Board may at its discretion determine that instead of the pension at the rate under subsection (1) the new scheme member is to receive—

S. 54(3)(a) amended by No. 49/1992 s. 17(1).

(a) a lump sum equal to a part or all of the accrued retirement benefit; and

(b) a pension at the rate of one-twelfth of the balance of the accrued retirement benefit—

in the proportions determined by the Board.

S. 54(3A) inserted by No. 49/1992 s. 17(2).

(3A) If the new scheme member receives a lump sum equal to all of the accrued retirement benefit, the new scheme member ceases to have any entitlement to a pension.