Document ID: chunk:federal_register_of_legislation:C2022C00261:section:14
Version: federal_register_of_legislation:C2022C00261
Segment Type: section
Provision Reference: s 14
Character Range: 14172–15759

14  Preserved benefits
 (1) Where:
 (a) a preserved benefit, or part of a preserved benefit, applicable to a person who has ceased to be a member becomes payable; and
 (b) the preserved benefit, or the part of the preserved benefit, consists only of an amount of member benefit;
then:
 (c) if the preserved benefit consists only of an amount of member benefit that is totally funded—the preserved benefit, or the part of the preserved benefit, is payable to, or in respect of, the person by CSC; or
 (d) if paragraph (c) does not apply:
 (i) an amount equal to:
 (A) if the total amount of preserved benefit is payable—the part of the member benefit that is totally funded; or
 (B) if a part of a preserved benefit is payable—a corresponding part of the part of the member benefit that is totally funded;
  is payable by CSC to the Commonwealth; and
 (ii) the preserved benefit, or the part of the preserved benefit, is payable to, or in respect of, the person by the Commonwealth.
 (2) Where:
 (a) a preserved benefit applicable to a person who has ceased to be a member becomes payable; and
 (b) the preserved benefit includes both an amount of member benefit and an amount of employer benefit;
then:
 (c) an amount equal to the sum of:
 (i) the part of the member benefit included in the preserved benefit that is totally funded; and
 (ii) so much of the funded employer benefit in relation to the person as is included in the preserved benefit;
  is payable by CSC to the Commonwealth; and
 (d) the preserved benefit is payable to, or in respect of, the person by the Commonwealth.