65BDeferral of benefits by transferees above minimum retiring age

65B Deferral of benefits by transferees above minimum retiring age

(1) A transferee who is, or is about to become, a person who:

(a) has attained his or her minimum retiring age; and

(b) has become entitled to one or more benefits under section 55 or 59;

may, not later than 3 months after, but not earlier than 3 months before becoming such a person, by notice given to the Commissioner, elect to defer payment of those benefits.

(2) If a transferee gives notice to the Commissioner in accordance with this section, payment of the benefits referred to in the notice is deferred until:

(a) the transferee gives notice to the Commissioner requesting payment of those benefits; or

(b) the transferee attains age 65;

whichever first occurs.