52NElection to defer or preserve a benefit

#### 52N Election to defer or preserve a benefit 52N Election to defer or preserve a benefit > > (1) A person to whom this Division applies may elect— > > > > > (a) if the person would have been entitled to be paid a benefit under section 21 (1) or 21 (1B) had he or she ceased employment on his or her exit day—to defer that benefit (in this Division termed a deferred benefit) in accordance with this Division, or > > > > > (b) in any other case—to preserve a benefit provided for by Division 3A which benefit is to be dealt with in accordance with that Division. > > > (2) When a person has made a valid election under subsection (1) (b), a benefit is not payable to, or in respect of, that person— > > > > > (a) under any other provision of this Act, and > > > > > (b) unless that person has ceased employment or has died. > > > (3) An employee may make only one election under this section but the election may relate to any single reduction in salary of 20% or more that occurs after the employee reaches 55 years of age (not just the first reduction that occurs). > > **s 52N:** Ins 1990 No 99, Sch 3. Am 1992 No 35, Sch 3.