Document ID: chunk:federal_register_of_legislation:C2024C00825:section:83
Version: federal_register_of_legislation:C2024C00825
Segment Type: section
Provision Reference: s 83
Character Range: 214741–216059

83  Payment on death of contributor with dependants
 (1) On the death of a contributor to the Provident Account before retirement, there shall be paid to:
 (a) if the contributor is survived by a widow, or is survived by a widower who, in the opinion of the Board, was wholly or substantially dependent upon the contributor immediately before the contributor's death—the widow or widower; or
 (b) if paragraph (a) does not apply but the contributor is survived by children of the contributor or of the contributor's spouse who are eligible children—those children;
a sum equal to three times the aggregate of:
 (c) the contributions paid by the contributor to the Provident Account; and
 (d) compound interest on those contributions at the prescribed rate.
 (2) Where the sum payable under subsection (1) is less than one‑half of the salary payable to the contributor to the Provident Account at the date of the contributor's death, the sum payable to the widow, widower or children, as the case may be, shall be a sum equal to one‑half of that salary.
 (3) Where an amount is payable under this section to children, the amount shall be divided equally amongst those children.
 (4) This section does not apply in respect of a contributor to the Provident Account who, on or after 1 July 1976, dies before retirement.