27Amount of pension payable on retirement

#### 27 Amount of pension payable on retirement 27 Amount of pension payable on retirement > **s 27, hdg:** Rep 1987 No 40, Sch 1 (20). > > > (1) A contributor who retires is entitled to be paid a pension of $5.50 per fortnight for each unit for which the contributor was contributing at the time of retirement. > > > (2) Subsection (1) does not apply to a contributor in respect of whom special provision for the payment of a pension or other retirement benefit is made under another provision of this Act. > > > (3) If STC has made a determination under section 61RA in respect of a pension payable under this section, the amount of the pension is reduced by the amount specified in STC’s determination. > > **s 27:** Am 1919 No 30, sec 3 (h); 1944 No 11, sec 6 (1) (g); 1948 No 9, secs 2 (1) (d), 3 (b); 1955 No 6, sec 7 (b); 1960 No 36, secs 5 (c), 6 (e); 1963 No 3, sec 9 (1) (c); 1965 No 30, sec 7 (1) (b); 1965 No 37, sec 3 (1) (e); 1970 No 7, sec 4 (d); 1976 No 101, Sch 2 (7); 1977 No 137, Sch 1 (8). Subst 1988 No 133, Sch 1 (20). Am 1988 No 133, Sch 2 (7); 1996 No 39, Sch 4; 1997 No 42, Sch 1.8 \[7\].