Document ID: chunk:federal_register_of_legislation:C2022C00261:section:52:p15
Version: federal_register_of_legislation:C2022C00261
Segment Type: section
Provision Reference: s 52 (pt 15/48)
Character Range: 68437–70781

(c) retired on the ground of redundancy or retrenchment; or
     (d) entitled to an invalidity pension.
(2) Subject to rule 15, in the case of a person to whom this rule applies:
     (a) his or her member benefit is payable to him or her as a lump sum; and
     (b) there is applicable to him or her a preserved benefit of the amount of his or her employer benefit.
(3) Subject to rule 15, a person who is entitled to be paid a member benefit under paragraph (2) (a) may elect that, instead of that benefit being paid to him or her, there be applicable to him or her a preserved benefit of the amount of the member benefit and if he or she so elects:
     (a) the member benefit is not payable to him or her as a lump sum; and
     (b) there is applicable to him or her a preserved benefit of that amount.
Benefits on retirement for redundancy or retrenchment or on attaining retiring age of less than 55 years
13. (1) Where a member is retired on the ground of redundancy or retrenchment and he or she is not entitled to an invalidity pension:
     (a) his or her member benefit is payable to him or her as a lump sum; and
     (b) there is applicable to him or her a preserved benefit of the amount of his or her employer benefit.
(2) Where a member retires and, on that retirement:
     (a) he or she has reached his or her retiring age;
     (b) that retiring age is less than 55 years; and
     (c) he or she is not entitled to an invalidity pension;
then:
     (d) his or her member benefit is payable to him or her as a lump sum; and
     (e) there is applicable to him or her a preserved benefit of the amount of his or her employer benefit.
(3) A person who is entitled to be paid a member benefit under paragraph (1) (a) or (2) (d) may elect that, instead of that benefit being paid to him or her, there be applicable to him or her a preserved benefit of the amount of the member benefit and if he or she so elects:
     (a) the member benefit is not payable to him or her as a lump sum; and
     (b) there is applicable to him or her a preserved benefit of that amount.
(4) A person to whom a preserved benefit is applicable under paragraph (1) (b) or (2) (e) may elect that, instead of that benefit being so preserved, it be converted into a pension payable to him or her and if he or she so elects:
     (a) a preserved benefit of