Document ID: chunk:federal_register_of_legislation:C1965A00097:body:0:p35
Version: federal_register_of_legislation:C1965A00097
Segment Type: other
Provision Reference: 
Character Range: 83960–86796

been paid;
       (c) in respect of each reserve unit of pension—whether the contributor has discontinued his contributions for or in respect of the reserve unit of pension;
       (d) the interest earned by the assets of the Fund during the quinquennium; and
       (e) the amount of the liability of the Fund in respect of the contributor from time to time during the quinquennium having regard, in addition to any other relevant matters, to—
             (i) the age of the contributor at the relevant times;
             (ii) the respective rates of mortality, invalidity and withdrawal from the Fund that were assumed, for the purposes of the calculation of the surplus, to apply in relation to contributors generally and in relation to the class of contributors in which the contributor was included;
             (iii) the contributions that have been paid, and are, or may be, payable, by the contributor; and
             (iv) the rates of interest that it was assumed, for the purposes of the calculation of the surplus, would be earned by the assets of the Fund.

Distribution of surplus among individual pensioners.
62.—(1.) The amount of the surplus available for distribution to eligible pensioners shall be distributed among those pensioners as the Treasurer, after receiving advice from the actuary, determines.
(2.) In furnishing advice to the Treasurer for the purposes of the last preceding sub-section, the actuary shall have regard to actuarial principles and practice and shall take into account all relevant matters, including—
       (a) the rate of pension, if any, payable to each pensioner at the beginning of the quinquennium, and at the thirtieth day of June in each year included in the quinquennium, that was based upon the contributions payable by him;
       (b) whether the pensioner was a pensioner during the whole of the quinquennium and, if not, the part of the quinquennium during which the pensioner was a pensioner;
       (c) the interest earned by the assets of the Fund during the quinquennium; and

       (d) the amount of the liability of the Fund in respect of the pensioner from time to time during the quinquennium having regard, in addition to any other relevant matters, to—
             (i) the age of the pensioner at the relevant times;
             (ii) whether, in the event of the death of the pensioner, any pension would or might be payable to a widow, or in respect of children, of the pensioner;
             (iii) the respective rates of mortality, remarriage and cancellation of pensions that were assumed, for the purposes of the calculation of the surplus, to apply in relation to pensioners generally and in relation to the class of pensioners in which the pensioner was included; and
             (iv) the rates of interest that it was assumed, for the purposes of the