14Saving of commutation entitlements of eligible pensioners

#### 14 Saving of commutation entitlements of eligible pensioners 14 Saving of commutation entitlements of eligible pensioners > > (1) Section 21C (1), as substituted by the amending Act, applies to or in respect of a pension to which a person became entitled under this Act before 1 July 1985 if the person who is in receipt of that pension is an eligible pensioner. > > > (2) Accordingly, an eligible pensioner may commute the whole or part of that pension in accordance with sections 21C and 21D. > > > (3) If an eligible pensioner attained the section 21C commutation age before the commencement of this clause— > > > > > (a) the eligible pensioner is taken, for the purposes of section 21D (1) and (2), to have attained the section 21C commutation age on the commencement of this clause, and > > > > > (b) the reference in section 21D (3) to the time prescribed is taken to be a reference to the time prescribed by that section as modified by this clause. > > > (4) If an eligible pensioner made an election to commute any part of his or her pension under section 21A before the repeal of that section by the amending Act (being an election that has not taken effect)— > > > > > (a) that election is to be treated as an election under section 21C, and > > > > > (b) the eligible pensioner may, without the approval of STC being necessary, make a further election under section 21C in accordance with section 21D (as modified by subclause (3), if applicable). > > > (5) In this clause, the section 21C commutation age means— > > > > > (a) in the case of a person who is in receipt of a pension payable under section 29, the maturity age, or > > > > > (b) in any other case, 55 years.