Document ID: chunk:federal_register_of_legislation:C2004A03392:body:0:p15
Version: federal_register_of_legislation:C2004A03392
Segment Type: other
Provision Reference: 
Character Range: 36100–38870

or 71 at the time of his or her retirement, additional age retirement pension in accordance with sub-section 57 (1) as if his or her accumulated contributions consisted only of his or her accumulated basic contributions.".

Early retirement—voluntary or involuntary retirement before attaining 60 years of age
21. Section 58 of the Principal Act is amended by inserting after paragraph (3) (a) the following paragraph:
     "(aa) in the case of a person holding a Senior Executive Service office within the meaning of the Public Service Act—the person retires pursuant to section 76r of that Act;".

22. After section 61 of the Principal Act the following section is inserted:

Early retirement pension on election under section 76a
"61a. Where a person—
     (a) makes an election under section 76a; and
     (b) would, if he or she had resigned or had retired otherwise than on the ground of invalidity, have been entitled to a standard early retirement pension under section 59,
then, on the day on which the person ceases to be entitled to an invalidity pension because of the election, the person becomes entitled to—
     (c) standard early retirement pension at the rate that would have been the rate of that pension at the time of the election if he or she had resigned or had retired otherwise than on the ground of invalidity; and
     (d) if the person did not make an election under section 68 or 71 at the time of his or her retirement, additional early retirement pension in accordance with sub-section 61 (1) as if his or her accumulated contributions consisted only of his or her accumulated basic contributions.".

Election for lump sum benefit in case of involuntary retirement
23. (1) Section 62 of the Principal Act is amended—
     (a) by omitting from sub-section (1) "under sub-section (2) of this section and, where he had paid supplementary contributions, an additional lump sum benefit in accordance with sub-section (3) of this section" and substituting "under this section"; and
     (b) by omitting sub-sections (2) and (3) and substituting the following sub-section:
     "(2) Where a person makes an election under sub-section (1), the person is entitled, in lieu of pension and lump sum benefit to which, but for the election, the person would be entitled under section 59, to payment of a lump sum benefit equal to the sum of—
           (a) 3½ times the amount of the person's accumulated basic contributions; and
           (b) the amount of the person's accumulated supplementary contributions (if any).".
(2) Section 62 of the Principal Act is amended—
     (a) by inserting in sub-section (1) ", or is about to cease," after "ceases";
     (b) by inserting in sub-section (1) "or will, upon so ceasing, be deemed," after "deemed,";