Document ID: chunk:federal_register_of_legislation:C2022C00261:section:52:p33
Version: federal_register_of_legislation:C2022C00261
Segment Type: section
Provision Reference: s 52 (pt 33/48)
Character Range: 110265–112708

amount is payable to, or for the benefit of the person or persons as a lump sum; or
     (b) in any other case, the amount is payable to the deceased person's personal representative as a lump sum.
(5) In determining the capital value of a pension under this rule, CSC must obtain, and have regard to, the advice of an actuary.
Part 5—Payment of Preserved Benefits
Drawing on member benefit included in preserved benefit
49. (1) Subject to subrule (2), where a preserved benefit is applicable to a person and the preserved benefit includes an amount of member benefit, he or she may, at any time, elect to have the whole or a part of that member benefit paid to him or her as a lump sum and:
     (a) if he or she elects to have the whole of the member benefit paid—the whole of the member benefit is payable to him or her; or
     (b) if he or she elects to have part of the member benefit paid—the amount specified in the election is payable to him or her;
and the amount of the preserved benefit applicable to the person is reduced by a corresponding amount.
(2) Where a person elects under this rule to have part of the member benefit paid:
     (a) that part must be an amount of $10,000 or a whole number multiple of that amount; and
     (b) he or she is not permitted, except with the approval of CSC, to make another election under this rule until 6 months has elapsed since the last election made by him or her.
Fee for payment of part of person's member benefit
50. (1) Where a person elects under rule 49 to have part of his or her member benefit paid to him or her, there is payable to CSC by the person a fee determined by CSC but not exceeding the administrative costs incurred by CSC in relation to that payment.
(2) A fee is not payable in respect of the first payment of part of a person's member benefit.
Payment of employer benefit included in preserved benefit before person attains age of 55 years
51. Where, in relation to a person:
     (a) to whom a preserved benefit applies; and
     (b) who has not attained the age of 55 years;
one of the following paragraphs applies, the employer benefit included in that preserved benefit becomes payable to him or her as a lump sum on the date specified in that paragraph:
     (c) CSC decides that by reason of the person's physical or mental incapacity, the person has become unlikely ever to be able to work again in employment for which he or she is reasonably qualified by