Document ID: chunk:federal_register_of_legislation:C2004A03971:section:365:p16
Version: federal_register_of_legislation:C2004A03971
Segment Type: section
Provision Reference: s 365 (pt 16/34)
Character Range: 168179–170858

of those units if they had been contributory units of pension in respect of which the person had contributed at rates based on a retiring age of 65; and

    (d) the amount of any transfer value paid by, or in respect of, the person to the Commissioner under this Act.".

Deferred benefits

75. Section 136 of the Principal Act is amended by omitting subsection (2) and substituting the following subsections:

"(2) Where a deferred benefit by way of age retirement benefit, early retirement benefit or invalidity benefit is payable to a person other than a former eligible employee with benefits from previous employment, the amount of the benefit is calculated in accordance with the following provisions:

(a) if:

       (i) a deferred benefit by way of standard age retirement pension is payable to the person in accordance with subsection 56 (1), (2), (3) or (4); or

       (ii) a deferred benefit by way of standard early retirement pension is payable to the person in accordance with section 60;

    the annual rate of that pension is an amount per annum equal to the amount calculated in accordance with the formula:

2.5  ×  F1      ×      ABC;

(b) if:

       (i) a deferred benefit by way of additional age retirement pension is payable to the person in accordance with subsection 57 (1); or

       (ii) a deferred benefit by way of additional early retirement pension is payable to the person in accordance with subsection 61 (1);

    the annual rate of that pension is an amount per annum equal to the amount calculated in accordance with the formula:

F1  ×      (AC + AEC);

     (c) if a deferred benefit by way of a lump sum benefit is payable to the person in accordance with section 65, the lump sum benefit is an amount equal to the sum of the person's

accumulated contributions and the person's accumulated employer contributions (if any);

    (d) if a deferred benefit by way of invalidity pension is payable to the person in accordance with section 67 or 70, the annual rate of that pension is an amount per annum equal to the amount calculated in accordance with the formula:

3.5×F2×ABC;

    (e) if a deferred benefit by way of a lump sum benefit is payable to the person in accordance with section 67 or 70, the lump sum benefit is an amount equal to the sum of the person's accumulated employer contributions (if any) and the person's accumulated supplementary contributions;

    (f) if a deferred benefit by way of invalidity pension is payable to the person in accordance with section 68 or 71, the annual rate of that pension is an amount per annum equal to the amount calculated in accordance with the formula:

2.5×F2×ABC;

    (g) if