10YElections to take up abandoned units at annual review day

10Y Elections to take up abandoned units at annual review day

10Y Elections to take up abandoned units at annual review day

Where an employee has an abandoned unit at the employee’s annual review day in any half-year—

(a) the employee may, within 2 months after that day, elect to take up that unit, and

(b) if the employee so elects—

(i) the employee shall commence to contribute for the unit as from the employee’s annual adjustment day in that half-year, and

(ii) the unit ceases to be an abandoned unit as from that annual adjustment day.

s 10Y: Ins 1976 No 101, Sch 3 (3).