Document ID: chunk:federal_register_of_legislation:C1969A00026:body:0:p6
Version: federal_register_of_legislation:C1969A00026
Segment Type: other
Provision Reference: 
Character Range: 12478–15023

exceed the number by which that difference exceeds the number of units of pension for which he is a contributor are to be applicable in relation to him as non-contributory units of pension.
"(2.) An election by an employee under the last preceding sub-section does not have effect in relation to a unit of pension unless the sum of—
    (a) the fortnightly amount of the contributions (other than contributions for reserve units of pension) that are payable by him to the Fund on the date of the election or, if that date is not a pay-day, that would be so payable if that date were a pay-day; and
    (b) the fortnightly amount of the contributions that, if he became liable to contribute for that unit on that date, would be payable by him to the Fund in respect of that unit on that date or, if that date is not a pay-day, on the next following pay-day,
exceeds three-one thousand and fortieths of his salary as at the date of the election.

Election by certain contributors to convert existing units to non-contributory units.
"22b.—(1.) Subject to this Act, an employee who has attained the age of forty years, but has not attained the age of sixty-five years, before the date of commencement of this section and is a contributor at that date may, before the expiration of the prescribed period, if he is still an employee, elect that such number of units of pension as is specified in the election, being units of pension for which he was a contributor immediately before that date and at the date of the election and the obligation to contribute for which came into existence on or after the date on which he attained the age of forty years, are to be applicable in relation to him as non-contributory units of pension.

"(2.) An election by an employee under the last preceding sub-section—
       (a) shall, if it is made after the date of commencement of this section, be deemed, for the purposes of this Division, to have taken effect on that date; and
       (b) shall be taken to relate to units of pension in the reverse of the order in which he became liable to contribute for those units.
"(3.) An election under this section by an employee other than an employee to whom sub-section (2bb.) of section nineteen of this Act applies does not have effect, and shall be deemed not to have had effect, in relation to a unit of pension unless, if the election had had effect on the day immediately before the date of commencement of this section, the fortnightly amount of the contributions (other than contributions for reserve units