Document ID: chunk:federal_register_of_legislation:C2004A01463:body:0:p33
Version: federal_register_of_legislation:C2004A01463
Segment Type: other
Provision Reference: 
Character Range: 75860–78376

is not payable in respect of the units of pension determined in accordance with paragraph (a) of this sub-section unless and until there has been paid to the Fund, or, on or after 1 July 1976, to the new Superannuation Fund, for the purposes of this sub-section, an amount equal to the sum of the contributions and interest that would, if the employee had continued to be a contributor to the State Fund and had ceased to be such a contributor on the day on which he ceases to be a contributor to the Fund, have been payable to the State Fund in relation to those deferred contributions for the purpose of enabling benefits to be payable in respect of those deferred contributions.

"(5) Where the number of units of pension for which a prescribed employee is, upon becoming an employee for the purposes of this Act, liable to contribute to the Fund by virtue of section 20 of this Act exceeds the number of units of pension for which he is liable to contribute to the Fund by virtue of sub-section (3) of this section, that sub-section does not affect his liability to contribute for the excess (in this sub-section referred to as 'additional units of pension'), but, if he attained the age of 40 years before the relevant date section 20a of this Act applies to and in relation to those additional units of pension as if they were additional units of pension for which he is required to contribute by reason of an increase in his salary since the attainment by him of the age of 40 years.

"(6) Where, immediately before the relevant date, the benefits for which a prescribed employee was entitled to contribute to the State Fund exceeded the benefits for which he was contributing to that fund—

    (a) sub-section (5) of this section applies in relation to him as if the reference to the number of units of pension for which he is liable to contribute to the Fund by virtue of sub-section (3) of this section were a reference to the number of units of pension (including, where necessary, a fraction of a unit) determined by the Board to be the number of units that will entitle him to benefits equivalent to those first-mentioned benefits; and
    (b) subject to sub-section (7) of this section, he may, at any time while he is a contributor to the Fund, but not later than 12 February 1976, elect to contribute to the Fund for so many additional units of pension (including, where necessary, a fraction of a unit) as the Board determines to be the number of units that will entitle him to benefits equivalent